NHPC sees 800mn unit production loss from Uttarakhand unit

State-owned National Hydroelectric Power Corp (NHPC) sees production loss of 800 million unit from flood-ravaged Dhauliganga power station in Uttarakhand, Director-Finance, ABL Srivastava told CNBC-TV18

The company had to stall power generation at Dhauliganga plant as it suffered heavy damages to infrastructure and machinery. On June 24, NHPC had informed exchanges that due to cloud burst and unprecedented high flood in Uttarakhand, the water had entered into the Dhauliganga power station (280 MW) and had submerged all the systems. The water had also damaged various ancillary structures of the project like roads, residential and non-residential buildings as well.
Srivastava said that the company hopes to start plant by this calendar year end but it may get even extended up to March. He however stressed that the company had insurance against the plant and hence only part impact will come on the profit and loss account of the company.  On Wednesday, the company reported more than 7 percent increase in net profit at Rs 719.93 crore for the first quarter ended June 30. Its revenue climbed to Rs 1,619.73 crore from Rs 1,424.45 crore in the year ago quarter.
Srivastava informed that despite the damage to Dhauliganga plant the generation in the Q1 has been 6,378 million units, which is 3.8 percent higher than the previous year. Impact of closure of Dhauliganga plant will be felt in upcoming quarters.
“In the first four months, our generation has been 8,757 million units which is almost at par with the previous years,” Srivastava said.
The company’s realizations have also improved during the first quarter following substantial fall in defaults.