NHPC net profit in Q4 rises to Rs 802 crore

NEW DELHI: State-run NHPC Ltd will invest Rs 4,000 crore this fiscal to commission about 1,200 MW hydro power projects, its Chairman and Managing Director ABL Srivastava said.

The company does not plan to take up new power projects in 2012-13, but expects commissioning of six projects that are under construction, Srivastava told reporters on Friday. The company had invested Rs 3,546 crore towards development of projects in 2011-12, he said.

It did not commission any new project last fiscal, but synchronised two units each of 11 MW of Chutak hydroelectric project with transmission grid.

In January-March, the company posted 26% yearon-year increase in net profit led by lower interest outgo and high electricity tariffs and other income.

Its net profit in the quarter to March stood at Rs 802 crore compared with Rs 638 crore a year ago.

NHPC has sent notices to distribution utilities of various states, including Jharkhand and Orissa, for Rs 1,600 crore of unpaid dues, Srivastava said.