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Home News Power Sector News NTPC Profit after tax (PAT) up 5.5% to Rs 8,657 crore

NTPC Profit after tax (PAT) up 5.5% to Rs 8,657 crore

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NTPCIndia’s largest power generator NTPC said it achieved a 5.5% growth in its profit after tax (PAT) for the financial year 2009-10 as compared with the preceding fiscal. During the same period, the company’s net sales grew 11.28%. The company’s gas-fired power plants achieved 17% growth in generation on the back of improved availability of gas supply after Reliance Industries started production from its D6 block in the Krishna-Godavari basin last April. The company’s power plants achieved an average plant load factor (PLF) of 90.81%.

NTPC chairman RS Sharma briefed media on the company’s performance in the fiscal 2009-10. The central utility reported PAT of Rs 8,657 crore in 2009-10, as against Rs 8,201 crore in the year before. The company’s net sales grew from Rs 41,791 crore in 2008-09 to Rs 46,504 crore in 2009-10. NTPC’s electricity generation increased by nearly 6% to 218.84 billion units. It was required to generate 217 billion units to meet the memorandum of understanding (MoU) target of excellent performance for the year. In comparison, NTPC achieved growth of 3% only in the preceding fiscal.

Out of the company’s 15 coal-based power plants, six achieved PLF of more than 95% and the rest between 90% and 95%. The overall availability factor for NTPC’s power plants was estimated at 91.76%.

In a related development, the utility has written to the Nigerian government to extend a memorandum of understanding due to expire in May to secure the supply of 3 million tonnes a year of liquefied natural gas (LNG) for its fuel-starved plants in India. The deal has been delayed after a change of government in Nigeria in 2007.

In return, NTPC was to build a 700MW gas-fired power plant and a 500MW coal-based plant in Nigeria, and renovate a 200MW unit at a 1,320MW plant. It had also offered to train around 30 Nigerian engineers and set up a training institute in that country.

Nigeria has 36.2 billion barrels of proven oil resources and is a member of the Organization of Petroleum Exporting Countries. It has the second largest hydrocarbon reserves in Africa after Libya. India is offering help to Nigeria to build infrastructure, especially power plants, following China’s strategy to secure access to oil and gas blocks in energy-rich Africa.

Source- Financial Express

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