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

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.