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Was it the harsh criticism of the government, especially the Prime Minister, in international circles that did the trick, or did the government just muster the courage required to the bite the reform bullet? The answer is unclear and perhaps the real story will be told in the coming weeks and even months.
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Hydro-power company NHPC’s revenues rose by 40% to Rs 1,431 crore during the June quarter (Q1), but this growth was chiefly due to prior-period revenues. Finalisation of tariff for earlier years led to Rs 275 crore being added to revenues in this quarter. Excluding that, growth would have been a more sedate 13.7%.
Continue ReadingEngineering company Larsen & Toubro has got an Rs 1,210 crore order to set up a 13 power sub-stations in Qatar. Its power and transmission division has got this order which has to be executed between 18 and 26 months. This is a relatively small order compared to its existing book of Rs 130,217 crore worth of orders in hand.
Continue ReadingJaiprakash Power Ventures (JPVL), a large private sector hydropower company reported a 52% increase in sales to Rs 181 crore, in the December 2010 quarter. Its sales slipped 36% sequentially, which should be seen in the light of the business being a seasonal one.
JPVL’s net profit is 35% up at Rs 23 crore, compared to the December 2009 quarter and one-fourth the previous quarter’s level.
Continue ReadingAfter stock exchanges came commodity exchanges and now you have power trading exchanges. Their life just got more interesting, with the Central Electricity Regulatory Commission (CERC), the central power sector regulator, notifying a host of regulations they have to adhere to. The current exchanges too have been set up under the purview of the regulator, but these were in the form of guidelines.
Continue ReadingTechno Electric & Engineering Company, a listed company with Rs 486 crore of revenues in 2008-09, is acquiring Simran Wind Project. Simran is listed in Suzlon Energy 2008-09 Annual Report as a company which is a promoter group entity. Techno Electric is an engineering, procurement and construction company with a focus on the power sector. During the half year ended September 2009, its revenues rose by 11% to Rs 272 crore and its net profit increased by about 60% to Rs 58 crore.
The power sector is keeping up a steady stream of orders for a starved engineering industry. Siemens, the Indian subsidiary of German engineering major Siemens AG, has got an Rs 360 crore order from Power Grid Corporation of India. The orders are to supply two 765kva substation packages to be set up at Gaya in Bihar and Ranchi in Jharkhand.
Continue ReadingPower plant suppliers in India and abroad will soon be submitting bids for a massive power plant order. The government’s Cabinet Committee on Infrastructure has approved bulk ordering for 4 large power projects. These power plants will be built using supercritical technology. The government announced this in a statement released yesterday.