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 (3x150 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.

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