By IANS,
New Delhi : State-owned power generation major NTPC will generate an additional 3,300 MW in 2009-10, but only about 2,000 MW of this will be available for commercial use this fiscal, a top official said here Wednesday.
NTPC has planned a capacity addition of 22,430 MW by 2012.
“This year, we will add about 3,300 MW to our capacity. About 2,000 MW of this will be commercially available, similar to 2008-09,” said chairman and managing director R.S. Sharma while announcing the company’s annual results.
NTPC’s total installed capacity stood at 30,144 MW till March 31.
The company reported a 5.6 percent increase in its provisional net profit for 2008-09 at Rs.7,827 crore ($1.5 billion), compared to Rs.7,415 crore the year before, Sharma said.
Net sales of the company rose to Rs.42,182 crore last fiscal from Rs.36,946 crore in 2007-08, an increase of about 14 percent.
“The company’s profits declined because of a higher provision of Rs.1,402 crore for wage revision, as compared to the wage provision of around Rs.600 crore last year (2007-08),” said Sharma.
NTPC is also on a major capital expenditure drive having spent about 12,687 crore in 2008-09 towards projects under execution, a rise of 45 percent over the previous figure of Rs.8,752 crore.
The approved outlay towards capital expenditure for this fiscal is Rs.24,525.8 crore for NTPC along with group subsidiaries, an increase of about 62 percent from 2008-09.
The company also plans to borrow an additional Rs.11,330 crore for NTPC alone this fiscal and has already got new loans aggregating to Rs.11,575 crore tied up with domestic banks and other financial institutions.
Cumulative domestic borrowing for the company for the year-ended March 31 is Rs.2,089 crore with a large ticket loan of Rs.8,500 crore in advanced stage of negotiation with a public sector bank, a company statement added.