The Hindu : Business : Tata Power net up 25 %

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Tuesday, Jun 24, 2008
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Tata Power net up 25 %

Corporate Reporter

Plans to add 10,000 MW capacity in the next five years

— PHOTO: PAUL NORONHA

CONSOLIDATING GROWTH: Prasad Menon (left), Managing Director, with S. Padmanaban, Executive Director, Operations, Tata Power, addressing a press conference in Mumbai on Monday.

CHENNAI: Tata Power has reported a total revenue of Rs. 5,915.91 crore in the year ended March 31, 2008 against Rs. 4,715.32 crore in the previous year. The profit after tax rose by 24.8 per cent at Rs. 869.90 crore against Rs. 696.80 crore. The company has announced a dividend of Rs. 10.50 per share of Rs. 10 each.

The company’s consolidated revenue rose by 68.2 per cent to Rs. 10,890.86 crore as compared to Rs. 6,475.64 crore in the previous year. The consolidated net profit rose by 38.9 per cent to Rs. 1,055.07 crore from Rs. 759.61 crore. The increase in the operating revenue has been mainly on account of inclusion of the company’s share in the Indonesian coal companies.

Tata Power reported 3.72 per cent growth in its annual sales at 14,959 million units against 14,422 million units. Its Trombay thermal power station recorded the highest ever generation of 10,002 million units with a plant load factor of 85.6 per cent.

Commenting on the company’s performance, Prasad Menon, Managing Director, has stated in a release that “The company continues to consolidate its growth plans through capacity expansion and has achieved significant milestones this fiscal by completing financing of its two key projects under implementation — 4,000 MW Mundra project and 1,050 MW Maithon project and synchronisation of its first unit at Haldia power plant.”

Growth plans

The company has charted out aggressive growth plans for addition of 10,000 MW of generation capacity in the next five years and the projects are in various phases of implementation.

It has announced the completion of signing of financial agreements for the 4,000 MW ultra mega power project (UMPP), coming up at Mundra, Gujarat owned by its subsidiary Coastal Gujarat Power Limited (CGPL). The cost of the project is estimated at Rs. 17,000 crore with the first of the five units to be commissioned in September 2011.

The 1,050 MW Maithon joint venture project with DVC is estimated to cost Rs. 4,450 crore. The 250 MW (unit 8) expansion project at Trombay is progressing well and will be commissioned by October 2008.

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