NHPC FY08 net up 8.32% at Rs 1,002 cr

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New Delhi, Apr 30 (UNI) National Hydroelectric Power Corporation Ltd (NHPC) today said its net profit for the year ended March 2008 increased 8.32 per cent to Rs 1,002 crore as compared to Rs 925 crore last fiscal.

The company's sales turnover for FY08 grew 17.8 per cent to Rs 2,311 crore as against Rs 1,963 crore last fiscal. Besides, it has achieved a 100 per cent revenue realisation at Rs 2,270 crore.

Announcing the results, company's Chairman and Managing Director S K Garg said NHPC has been conferred with Mini Ratna status on Monday, which gives it financial and operational autonomy.

During FY08, the company has generated 14,811.35 million units electricity against 13,048.74 million units over the same period previous year, registering an increase of 13.5 per cent.

The hydropower utility with current capacity of 5,000 MW, aims at becoming the 10,000 MW plus company by March 2012.

He said NHPC will file a fresh Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (SEBI) in the second week of June for its proposed IPO which is expected to hit the market by mid-August.

The firm had filed the DRHP in April last year which is now invalid due to delay in the appointment of independent directors by the government under the SEBI's listing agreement, Mr Garg said.

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