ON THE FAST TRACK: GUJARAT INDUSTRIES POWER COMPANY LIMITED
Article Abstract:
Gujarat Industries Power Company Limited (GIPCL) of Baroda has announced a dividend of 18 percent for the year ended March 31, 1998. (gsh) --------------------------------------------------------- Audited Financial Results: Gujarat Industries Power Company Limited (Rs in lakh) --------------------------------------------------------- Particulars 1997-98 1996-97 --------------------------------------------------------- Net sales 16726 12056 --------------------------------------------------------- Other income 756 959 --------------------------------------------------------- Total expenditure 10046 6843 --------------------------------------------------------- Interest 2291 1985 --------------------------------------------------------- Gross profit 5145 4187 --------------------------------------------------------- Depreciation 2087 1783 --------------------------------------------------------- Expenses amortised 11 1 --------------------------------------------------------- Provision for tax 0 16 --------------------------------------------------------- Net profit 3047 2387 --------------------------------------------------------- Equity share capital 7492 7485 --------------------------------------------------------- Reserves 15565 13993 --------------------------------------------------------- GIPCL's 145 mw power station recorded an all-time high plant load factor of 89.05 percent in 1997-98. Commercial operations at its 160 mw Baroda expansion project is expected to begin in the last quarter of 1998-99 and the 250 mw lignite-based power project will be commissioned in the same period. Both the plants located in Baroda are operating at full capacity at present. In 1998-99, the profits are expected to go up once the 250 mw lignite-based plant at Mangrol is commissioned. (gsh)
Comment:
Reports increase in net profit to Rs3047 lakh for year ending 3/31/98 versus Rs2387 lakh in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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FIs' MOVE ON ESCROW ROUTE CASTS DOUBT ON PROJECTS
Article Abstract:
Many private power projects in Maharashtra, Tamil Nadu, Madhya Pradesh and Andhra Pradesh are facing the risk of closure because financial institutions (FIs) have rejected the escrow clauses and exposure covers of the state electricity boards. The FIs have rejected the proposal to restructure the escrow covers, limiting it only to debt, fuel, operation and maintenance charges. The FIs have estimated that the escrowability of the projects in Madhya Pradesh and Tamil Nadu are only Rs2500 crore while the cost of the projects are about Rs4500 crore. Many projects may have to be abandoned as the FIs are willing to finance only those projects that get the entire cover. (khr)
Comment:
India: Private power projects in Maharashtra & Tamil Nadu faces closure due to financial institutions rejecting escrow clauses
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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