New Delhi, May 10 : State-run power generator NTPC posted a 69 percent year-on-year rise in profit for the fourth quarter ended March to Rs. 4,381 crore.
The company's sales for the quarter grew marginally to Rs. 16,461 crore, up a little over one percent year-on-year.
The company posted a net profit of Rs. 12,619 crore for the year ended March 31, 2013, as compared to Rs. 9,223 crore for the year ended March 31, 2012.
Total income increased from Rs. 64,841 crore for the year ended March 31, 2012, to Rs. 68,775 crore for the year ended March 31, 2013.
Chennai, April 9 : Two of India's power sector majors -- equipment-maker BHEL and power-generator NTPC -- are together to set up a 100 MW power plant based on Integrated Gasification Combined Cycle (IGCC) technology.
"Talks between the two companies have progressed. Discussions have been held on parameters and the plant design is already available with us," A. V. Krishnan, executive director, BHEL (Boiler Division) told IANS over the phone from Tiruchirapalli.
According to Krishnan, the investment for the project will be around Rs. 700 crore.
Through the NTPC Ltd issue on Thursday, the government mobilized around Rs 11,400 crore (nearly $2.1bn) by selling 78.326 crore shares at an average price of Rs 145.91 apiece.
The floor price for the issue, which took place through the offer for sale (OFS) route, was set at Rs 145 a share. The issue was subscribed 1.7 times, generating a demand worth around Rs 19,400 crore.
Following the share sale, the government's stake in the public sector power giant slipped from 84.5 per cent to 75 per cent.
Stake sale in power producer NTPC Ltd. on Thursday is expected to raise around Rs 12,000 crore ($2.25bn), which will make it the government's largest share sale this financial year, according to disinvestment secretary Ravi Mathur.
An empowered group of ministers (EGoM) led by union finance minister P Chidambaram on Tuesday finalized the timeline and pricing of the issue.
After the EGoM meeting, the disinvestment secretary said, "The NTPC disinvestment is scheduled for February 7 and is expected to raise Rs 12,000 crore."
The government has decided to allot three of the five de-allocated coal blocks to state-owned power giant NTPC, apparently to boost the company's value ahead of disinvestment of a part of the government's stake.
In June 2011, the government had de-allocated five of NTPC's eight coal block as a punishment for its slow progress in development of the coal blocks.
But, the coal ministry yesterday announced that NTPC would be re-allocated three of the five de-allocated coal blocks, viz. Chatti-Bariatu, Chatti-Bariatu (South) and Kerandari coal blocks.
State run, NTPC has indicated that it might be forced to downsize its Katwa project in West Bengal by about half its size so as to be able to construct the facility within the available
550 acres of land that has been allotted to the company by the state government.
The Union Cabinet is widely expected to give a green signal to 9.5 per cent stake sale in state-run NTPC this Thursday.
In case the Cabinet approves the proposal, it will play a crucial role in rejuvenating the government's delayed stake sales initiative, which aims to garner Rs 30,000 crore for the exchequer during the current financial year.
The government has declared that central public sector units (PSUs) will either have to invest the surplus funds they have or just lose it.
Currently, as many as twenty-five PSUs, including ONGC, GAIL, NTPC, BHEL and SAIL, have surplus cash worth Rs around 2.5 lakh crore. But PSUs are reluctant to make investments as they perceive numerous hurdles to investment plus they don't see the current economic situation very propitious or conducive.
Indian Prime Minister Manmohan Singh has directed central government officials to take steps to address concerns expressed by public sector companies in implementing their plans.
Government-owned power producer NTPC has apparently decided to put an end to its long standoff with Coal India Ltd. (CIL) by agreeing to sign the new Fuel Supply Agreement (FSA).
At the request of the union power ministry, CIL has modified a number of clauses, including penalty clauses, in the new FSA.
NTPC agreed to sign the FSA for new units with an 80 per cent trigger point, while FSAs for units prior to January 2010 were penned down with a 90 per cent trigger point.
India's biggest power producer, NTPC has said that it is planning to spend as much as $15 billion during the next ten years to acquire coal supplies from overseas locations as the price of the fossil fuel fell to its lowest level since more than a year and half.
The company might enter into 10-year contracts to import as much as 150 million metric tons of coal, according to Chairman Arup Roy Choudhury. This amounts to 15 billion, assuming a rate of $100 a ton of coal from international markets.
The union coal ministry has urged Coal India Ltd (CIL) to consider a request by NTPC for singing the fuel supply agreement with revised minimum fuel supply level for all of the new units of its existing plants.
Despite a 19% growth in fuel costs, NTPC has registered a growth of 5% in its consolidated net profit, which remained at Rs 9,814 crore in the fiscal year ended March 2012 as compared to Rs 9,348 crore during the previous financial year.
On a standalone basis, the state-owned generation utility’s net profit declined 6.7% to Rs 2,593.44 crore in January-March 2012 period as compared to Rs 2,781 crore in the year-ago period.
Fuel prices surged to Rs 43,302 crore during 2011-12 as against Rs 36,414 crore in the year ended March 2011.
The union government is likely to speed up the process of setting up a new coal regulatory body in the country and also auction of coal mining blocks in wake of the allegations that faulty policies cost billions of dollars in lost revenues to the country.
A leaked report by CAG that published by section of media said that the nation lost Rs 10.7 lakh crore of revenue by allotting coal blocks to companies directly and not conduction auctions.
Arup Roy Choudhury, the Chairman and Managing Director of state-run NTPC has said dismissed reports suggesting that the state run companies befitted from the failure of the government to auction coal assets in the country.
He said that NTPC did not earn any windfall profit from the coal produced from the mines because the CERC-regulated regime makes the cost of coal from these mines a pass-through in the power tariff. Thus, the ultimate benefit in cost savings will be given to the users.
Power major, NTPC Ltd has said that it has received clearance from the union ministry of environment and forests (MoEF) for the 3x800 MW Kudgi Super Thermal Power Project Stage-I.
The project is being set up in Bijapur district of the southern state of Karnataka. The Board of Directors of the state run company cleared investment proposal amounting to Rs 15,166 crore for the project, it said in a statement.
New Delhi July 8 : State-run power utility major NTPC Friday entered into an agreement with the State Bank of India (SBI) for a loan of Rs. 10,000 crore for its capacity expansion plans.
"NTPC signed the loan (agreement) to surge ahead its capacity expansion plans and to finance the capital expenditure of its ongoing project," the company said in a statement.
The statement further said: "Rupee term loan has a door to door maturity of 12 years with a draw down period of 4 years."
According to reports, the coal ministry has put on hold the five coal acreages, along with the three given to state run generation utility, NTPC stating that the companies displayed lack of seriousness in developing them.
However, NTPC has reacted to the statement, as they said; “the decision was irrational and lacked transparency since the company has completed more work in its blocks than other private firms had done in their mines”.
Mumbai, May 10 : India's top power producer National Thermal Power Corporation (NTPC) Tuesday posted 38 percent increase in its net profit at Rs. 2,781.84 crore for the quarter ended March 31 as against Rs. 2,017.65 crore during the like period of the last fiscal.
Net sales grew 25.62 percent at Rs. 15,518.94 crore during the quarter under review as compared to Rs. 12,353.39 crore during the like quarter of the last financial year, the company said in a regulatory filing.
The company also recommended final dividend of Rs. 0.80 per equity share.
NTPC’s reported PAT remained flat at Rs23.7bn during the quarter. However, its adjusted PAT grew by 11% y-o-y to Rs23.2bn, marginally ahead of our estimate of Rs22.3bn. Generation remained flat at 54.7BU, despite higher capacity, as some of its units had to back down due to low demand schedule. It has tied up over 100GW under long term PPA’s with various SEB’s, thus giving comfort vis-à-vis private IPPs like JSW Energy who have higher exposure to the merchant market. Maintain HOLD with a target price of Rs216.
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