In an interview to CNBC-TV18 RP Singh, CMD, SJVN spoke about the financial performance of the company and the road ahead. The company reported a net profit of Rs 210.9 crore in Q3FY14 versus Rs 192.1 crore in the year ago period. Its revenues increased 8.2 percent to Rs 387.4 crore in Q3FY14 versus Rs 358.12 crore, annually.
The company generated 1,069.8 million units in Q3 and hopes to breach the 7,000 million mark for the full year. He further added that barring two discoms, the company’s receivables are in a good position and total receivables for 60 days stand at Rs 153 crore.
Below is verbatim transcript of RP Singh’s interview with CNBC-TV18’s Latha Venkatesh and Sonia Shenoy.
Q: What is the volume of units you sold in Q3?
A: In Q3, our gross energy is 1069.79 against 922.3 million units same quarter last year.
Q: For the full year how much do you think you might do in terms of volumes?
A: We have already exceeded more than 6,800 units and we are quite hopeful of crossing 7,000 million.
Q: Can you update us on Rampur commissioning as well. When is the first unit expected to start?
A: We are likely to commission the first unit of Rampur within the financial year of 2013-14.
Q: What are you receivables positioned and from which electricity boards?
A: Our receivable positions are good, barring two discoms.
Q: How much is it?
A: The total due of 60 days is only around 153 crore.
Q: Which discoms are these?
A: These Discoms are from northern region.
Q: You have signed a memorandum of understanding (MoU) to form a joint venture company as well for the implementation of the first phase that is 1,000 Mega Watts of ultra mega power projects (UMPP). Can you tell us more about this?
A: This is 4,000 MW ultra solar project in Sambhar area of Rajasthan. The first phase of 1,000 MW capacity is to be developed and it be the largest in the world. I was told that present largest, which is under development, is 750 MW and ours is going to be 1,000 MW. However, what I foresee that this renewable energy will provide good boost to energy security in our country.
Q: At Rampur you will be adding 412 MW by June you said, right?
A: Yes.
Q: How much will that mean your generation capacity will increase for FY15 for the next financial year, how many units more will you be able to generate?
A: It will be approximately 1,960 MW and in terms of energy if you consider all together it will be around 8,400 million units.
Q: You have already signed power purchase agreement (PPA) for this?
A: Yes, signing of PPA is in process.
Q: Next year your revenue growth might be how much. Would it be 20 percent more FY15 revenues over FY14?
A: Yes.
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