NTECL has also paid interim dividend to the other JV partner - TANGEDCO - on their shareholding of 50% in the JV.
New Delhi: NTPC Tamil Nadu Energy Company Limited (NTECL), a joint venture between NTPC Limited and Tamil Nadu Generation and Distribution Company Limited (TANGEDCO), paid its second interim dividend of ₹100.11 crore for FY23.
Ramesh Babu V, Chairman, NTECL and Director (Operations), NTPC presented the check to Gurdeep Singh, Chairman and Managing Director, NTPC, a company statement said.
“NTPC Tamil Nadu Energy Company Limited (NTECL), a JV between NTPC Limited and TANGEDCO (50:50) has declared 2nd Interim Dividend of ₹100, 11,68,090/- for the year 2022-23 for 50% share of NTPC paid," it said.
Jayakumar Srinivasan, Director (Finance), NTPC, Sandeep Agarwal, ED (Finance) & Director, NTECL and Amit Garg, Company Secretary, NTECL were also present on the occasion.
NTECL has also paid interim dividend to another JV partner - TANGEDCO - on the shareholding of 50% in NTECL.
It is a 50:50 joint venture company formed between NTPC and TANGEDCO and has its only power plant - Vallur Thermal Power Station (VTPS) - with a capacity of 1500 MW (3 units of 500 MW each), located in Vallur village. Ponneri taluk in Tiruvallur district of Tamil Nadu.
The power plant was established under the Mega Power Project Policy of the Central Government. This power plant was commissioned to its full capacity and has been working since 2015 and about 70% of the power from this station is supplied to Tamil Nadu and the rest to neighboring states like Andhra Pradesh, Karnataka, Kerala, Telangana and Pondicherry.
In FY22, the company reported its highest ever profit after tax of ₹798 crore as against net profit of ₹326 crore in the previous fiscal.
Central public sector enterprise NTPC reported a 7.4% decline in its consolidated net profit at ₹3,417.67 crore in October for the July-September quarter of FY23. On Thursday, its shares closed at ₹166.65 on BSE, up 0.57% from its previous closing price.
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