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ONGC Tripura Power Company (OTPC) on Thursday announced that it has become the first dividend paying standalone gas-based power generation company in the country. In an official statement, OTPC, a joint venture company of ONGC, IL&FS, IDFC and Government of Tripura, said that it had reported a net profit of Rs. 130.45 crore during the financial year 2016-2017. This is nine times the Rs. 12.96-crore net profit earned during the financial year 2015-2016.
OTPC also declared maiden dividend of 7.5 per cent of paid-up equity share capital of Rs. 1,120 crore amounting to Rs. 84 crore for the financial year 2016-2017. The company operates a 726-MW gas-based combined cycle power plant at Palatana in Tripura. The plant alone meets around 35 per cent power requirement of North Eastern States.
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