Active Stocks
Fri Apr 12 2024 15:57:45
  1. Tata Steel share price
  2. 163.50 -1.00%
  1. NTPC share price
  2. 362.00 -0.32%
  1. ITC share price
  2. 430.10 -1.56%
  1. HDFC Bank share price
  2. 1,518.90 -1.10%
  1. State Bank Of India share price
  2. 766.75 -1.57%
Business News/ Companies / News/  NTECL pays 2nd interim dividend of 100 cr to NTPC
BackBack

NTECL pays 2nd interim dividend of ₹100 cr to NTPC

NTECL has also paid the interim dividend to the other JV partner -- TANGEDCO -- on its shareholding of 50% in the JV

NTPC in October reported a 7.4% fall in its consolidated net profit for July-Sept quarter of FY23 at ₹3,417.67 crore.Premium
NTPC in October reported a 7.4% fall in its consolidated net profit for July-Sept quarter of FY23 at 3,417.67 crore.

NEW DELHI : NTPC Tamil Nadu Energy Company Limited (NTECL), a joint venture between NTPC Limited and Tamil Nadu Generation and Distribution Company Ltd (TANGEDCO) paid its second interim dividend of 100.11 crore for FY23.

A company statement said that Ramesh Babu V., Chairman, NTECL & Director (Operations), NTPC presented the cheque to Gurdeep Singh, Chairman & Managing Director, NTPC.

“NTPC Tamil Nadu Energy Company Limited (NTECL), a JV between NTPC Limited & TANGEDCO (50:50) paid Second interim dividend of 100, 11,68,090/- for the year 2022-23 towards the 50% share of NTPC," it said.

Jaikumar Srinivasan, Director (Finance), NTPC, Sandeep Aggarwal, ED (Finance) & Director, NTECL and Amit Garg, Company Secretary, NTECL were also present on the occasion.

NTECL has also paid the interim dividend to the other joint venture partner -- TANGEDCO -- on its shareholding of 50% in NTECL.

It is a 50:50 joint enture company formed between NTPC and TANGEDCO and has a sole power plant -- Vallur Thermal Power Station (VTPS) -- with a capacity of 1500 MW (3 units of 500 MW), situated at Vallur village of 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 operating since 2015 and around 70% 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 against the previous fiscal’s net profit 326 crore.

Central public sector enterprise NTPC in October reported a 7.4% fall in its consolidated net profit for July-September quarter of FY23 at   3,417.67 crore. On Thursday, its shares on the BSE closed at 166.65, higher by 0.57% from its previous close.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 29 Dec 2022, 08:00 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App