Satluj Jal Vidyut Nigam pays Rs27 cr dividend to HP govt

Satluj Jal Vidyut Nigam pays Rs27 cr dividend to HP govt

Shimla: State-run Satluj Jal Vidyut Nigam Ltd (SJNV) today said it has paid a dividend of Rs27 crore to the Himachal Pradesh(HP) government.

“The company this year paid a total of Rs61 crore in dividend to the Himachal Pradesh government. It had paid an interim dividend of Rs34 crore in March this year," a company release said here.

During the 2007-08, the company had achieved the highest net profit of Rs764.51 crore against Rs732.71 crore achieved last year, company Chief Managing Director H K Sharma told Himachal Pradesh Chief Minister Prem Kumar Dhumal.

“The company’s Nathpa Jhakri Hydroelectric Power project in 2007-08, the largest underground hydro-electric power project in the country, had generated 6,449 million units (MU) of electricity against 6,014 MU in the previous year," SJVN Deputy General Manager Vijay Kumar Verma said in statement.

He said that the company had declared a dividend of Rs244 crore for fiscal 2008, of which, equity partner the Government of India had been paid a dividend of Rs183 crore. “This was the highest ever dividend paid by the company," he added.

SJVN, a joint venture of Government of India and Himachal Pradesh, supplies electricity to northern states of Himachal Pradesh, Punjab, Haryana, Delhi, Jammu and Kashmir, Rajasthan, Uttar Pradesh, Uttaranchal and the Union Territory of Chandigarh.

The dividend cheque was presented to Chief Minister Prem Kumar Dhumal by SJVN Chief Managing Director H K Sharma.