Gujarat Industries Power Company Ltd (GIPCL) is looking at a profit of over Rs 300 crore in FY22, KK Bhatt, general manager-finance and CFO, told CNBC-TV18.

The stock is on the radar after the key 125-Megawatt (MW) lignite-based generation unit in Surat has been restored. The unit had undergone a temporary shutdown in December 2020 owing to a technical snag.

“For FY22, we are looking at Rs 300 crore plus profit because the machines are working well and all the solar and wind divisions are doing well too,” said Bhatt.

On the Surat unit, he said, “The Surat lignite unit is now running at full capacity of 125 MW and is stable. The economizer (mechanical device used to reduce energy consumption) beams have also been replaced.”

The company’s total capacity now stands at 1,082 MW, he said, while adding that the power demand is going up and load capacity is increasing accordingly.

However, Baroda station is facing some issues because of the lack of availability of gas, he mentioned.

For the entire management interview, watch the video.

(Edited by : Dipika Ghosh)