APGenco registers Rs 11 crore turnover

HYDERABAD: APGenco has increased energy sales to 39,096 MU in 2011-12 against 34,637 MU last year, said its managing director K Vijayanand.Sharing the annual results of APGenco with media at Vidyuth Soudha here on Wednesday, he said that they had achieved a turnover of `11,381 cr this year over last year’s Rs 9,096 cr, which is a 25 percent increase. Vijayanand said they are hopeful of earning a profit around Rs 401 cr this financial year and last year profit was Rs 313 cr. The net worth of APGenco has increased from Rs 3,160 cr in 2010-11 to Rs 3,561 cr in 2011-12.He refuted allegations that there were irregularities amounting to Rs 350 cr in imported coal purchase. He claimed that APGenco had paid a very economical price for the coal. He said that they were placing orders to reputed public sector undertakings of the central government. He also said APGenco is not placing any order to individual private companies or suppliers. Telugu Desam MLA A Revanth Reddy had two days ago alleged that chief minister N Kiran Kumar Reddy and former chief minister K Rosaiah had taken bribe of Rs 350 cr in connection with the imported coal. He also alleged that the government had purchased cheap quality coal by paying high price to a Gujarat-based company.He said APGenco’s present installed capacity was 8,924.9 MW, of which 5,092.5 MW was thermal, 3,829 MW.4 was hydro and 3 MW was renewable energy source. He also said APGenco had achieved highest generation of 42,254 MU this year and last year it was 37,321 MU.