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MAY 19 2017

ONGC Tripura posts Rs. 130-cr profit

  • Economic Times, ET Bureau / Hyderabad
  • Created: Fri 19th MAY 2017

 

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.

Tags

Tripura Tripura State Electricity Corporation Ltd Gas Power Generation ONGC Joint Venture Power Plant Power Palatana Palatana Power Plant ongc

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