NHPC eyes Rs 8,900 crore revenue from operations in current fiscal

New Delhi: State-run hydro power giant NHPC on Tuesday said it is eyeing a revenue of Rs 8,900 crore and electricity generation of 27,500 million units (MUs) in the current financial year under an agreement with the government.

The NHPC Ltd has signed a Memorandum of Understanding (MOU) on Tuesday with the Ministry of Power, Government of India for 2020-21, a company statement said.

The MOU was signed by Power Secretary Sanjiv Nandan Sahai and NHPC chairman and managing director A K Singh.

In the signed MOU for NHPC, generation target under 'excellent' rating has been set as 27,500 MUs as against last year target of 26,000 MUs.

Excellent targets for revenue from operations (Net) has been kept as Rs 8,900 crore, operating profit as a percentage of revenue from operations (Net) has been kept as 38 per cent.

Further, the capex target to ensure optimum utilisation of budget, targets regarding trade receivables, reduction in claims against the company not acknowledged as debt over previous year on overall basis and percentage of procurement of goods and service through GeM portal to total procurement of goods and services during the previous year etc have been included in the MOU.

In addition, milestones in respect of restoration of Unit 1 and Unit 2 of Chamera-II Power Station and assets monetization parameters have also been included in the MOU.