India Power Corporation Ltd (IPCL), a power utility company, on Saturday reported a gross revenue of Rs. 586 crore for 2015-16 against Rs. 618 crore in the previous fiscal. Its PBT improved to Rs. 43.54 crore during FY 15-16 as compared to last year's PBT of Rs. 36.60 crore. The board has recommended a dividend of 5 per cent.
Hemant Kanoria, Chairman, IPCL, said, “Due to the continuous improvement in our network, we have achieved T&D losses of 2.31 per cent, far lower than the industry average of around 25 per cent. We are now focusing on growth and backward integration."
It commissioned a 220/33 kV substation at J.K. Nagar in Asansol sub-division of West Bengal in November last year, connecting IPCL to the national grid and enabling flexibility to source power. The company said work on the 450 MW (3×150 MW) coal-based power plant at Haldia was on.
IPCL's Gaya distribution franchisee, India Power Corporation (Bodh Gaya) Ltd, which serves Gaya, Bodh Gaya, Manpur and its adjoining areas, saw a 26 per cent growth in consumer base last year. It has reduced its T&D losses from 60 per cent (March 2015) to 46 per cent (March 2016).
India Power Green Energy Utility Pvt Ltd, a wholly-owned subsidiary of IPCL, was incorporated last December to foray into renewable energy production.
source: Hindu Businessline
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