Skip to main content

Tata Power net profit rises 25% in 2007-08

In spite of the sharp increase in oil and coal prices globally in the financial year 2007-08, Tata Power Company Ltd has posted 25 per cent increase in net profit at Rs 869 crore up from Rs 696 crore posted in the previous year.
The net sales have also increased by 25 per cent for the fiscal at Rs 5,915 crore (Rs 4,715 crore).
The company reported 3.72 per cent growth in its annual sales at 14,959 million units (MUs) in FY08 against 14,422 MUs. Trombay thermal power station recorded the generation of 10,002 MUs with a plant load factor of 85.61 per cent for FY08.
Jojobera thermal power station generated 2,862 MU in FY08.
The fuel expenditure has climbed to Rs 3,714 crore from Rs 2,708 crore in the last fiscal. The company has recommended a dividend of Rs 10.50 per share.
Talking to mediapersons after announcing the results, Mr Prasad Menon, Managing Director, said that the company plans add about 13,000 MW of generation capacity in the next five years through its various projects, which are underway. The Mundra ultra mega power project is on schedule and the first unit would come up by September 2011, he said.
Mr Menon said that the company is planning to set up large power projects in Maharashtra. For the Shahapur power project, the notice of land acquisition has been issued by the Maharashtra Government and many land holders have shown willingness to sell land. If the company gets 500 hectares it would be able commission the project by 2012, he said.
He said that the 1,050-MW Maithon project, which is being built in joint venture with Damodar Valley Corporation, has completed its financing. The project has a debt-equity ratio of 70:30 and would require Rs 4,450 crore investment, he said. Shipping venture
Mr Menon said that by 2012 the company would be importing about 22 million tonnes of thermal coal for which it would require 9 cape size vessels. $500 million has been earmarked for this. The company has already contracted three vessels on long-term basis, he said.
“Our investments in power projects are for 25 years and prices of commodities like coal go through cycles. Even shipping and freight prices are cyclical. By getting into shipping we have evened out our risk,” Mr Menon said.

At the closing of market hours on the BSE on Monday the scrip was traded at Rs 1,192.60, down by 4.82 per cent over the previous close of Rs 1,253.05.

Comments

Popular posts from this blog

RBS picks up 0.60% stake in Gateway Distriparks

The Royal Bank of Scotland (RBS) has picked up 0.60% stake in logistic services provider -- Gateway Distriparks. The bank has bought 6.40 lakh shares in the company for a total consideration of Rs 8.32 crore. Gateway Distriparks, incorporated in 1994, is engaged in the business of warehousing, container freight stations, providing handling and clearance of sea borne export-import trade in containerized form.

Day End Report

The Sensex opened with a huge downward gap of 250 points at 13,856, and soon touched a low of 13,731. Another rise in repo rate and Cash Reserve Ratio by the RBI sparked off heavy sell-off in opening trades. However, fresh buying at lower levels helped the index recover all its losses by mid noon trades. A fresh round of buying in late trades saw the index surge to a high of 14,249 - up 518 points from the days low. The Sensex finally settled with a gain of 113 points at 14,220. The NSE Nifty ended with a gain of 60 points at 4,251. The market breadth was marginally positive- out of 2707 stocks traded, 1,370 advanced, 1,264 declined and 73 were unchanged today. Reliance Communications (RCom) zoomed 7.2% at Rs 509. Tata Steel surged 4.5% at Rs 743. DLF and Reliance Infra gained 4.2% each at Rs 458 and Rs 945, respectively. TCS and Bharti Airtel advanced 4% each at Rs 877 and Rs 780, respectively. Ranbaxy was up 3.8% at Rs 545. BHEL gained 3.7% at Rs 1,442. Reliance advanced 3.4% to Rs 2...

Auto industry records highest-ever sales in Jan

Riding on the back of economic growth, easy availability of finance and the continuing fiscal stimulus, the domestic auto industry has posted the highest ever monthly sales in January. The strong growth is both in terms of passenger car volumes and the total vehicle sales. According to Society of Automobile Manufacturers (SIAM) data, the passenger car segment has posted a 32 per cent growth in domestic sales at 145,905 units in January, over the same month last year. The last highest-ever monthly sales in the segment were in March 2009, when it sold 129,358 units. Meanwhile, overall sales across the industry grew 45 per cent at 1,114,157 units. The earlier record of highest ever monthly sales was in October 2006, when the industry had sold 1,017,198 units. Individually, the umbrella passenger vehicle segment posted a 37 per cent growth, while the commercial vehicle (CV) segment grew 131 per cent. Also, the two-wheeler and three-wheeler segments rose 43 and 47 per cent, respectively.