NHPC FY08 net up 8.32% to Rs 1,002cr, to bring IPO in August

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 2,311 crore as against Rs 1,963 crore last fiscal. Besides, it has achieved 100 per cent revenue realisation at Rs 2,270 crore.

NHPC has been conferred with Mini Ratna status, which gives it financial and operational autonomy.

The company told reporters that it is likely to hit the market with an initial public offering (IPO) by August this year.

The hydropower utility with current capacity of 5,000 MW, aims at becoming the 10,000 MW plus company by the end of 11th plan, that is by 2012.

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