Pragati Power Corp presents cheque of Rs 14 cr to CM

New Delhi, Nov 13 (UNI) The Pragati Power Corporation Ltd has earned a profit of Rs 47.94 crore after deducting tax on a turnover of Rs 478 crore during the financial year 2005-2006.

The company had paid a dividend of Rs 14 crore to the state government, which was the same as was paid in the last financial year, a statement said today.

A cheque of the amount was today handed over to Delhi Chief Minister Sheila Dikshit by Delhi Power Minister Haroon Yusuf and company CMD Rakesh Mehta at Delhi Secretariat.

Pragati Power Corp, a wholly-owned undertaking of the Delhi government was operating 330 MW Combined Cycle power plant. The plant was fully commissioned in 2003. During 2005-2006 its gross generation was 2299 MUs.

The company had been consistently earning profit. Last year an amount of 31.50 crore was paid to the state government towards dividend for the financial years 2003-2004 and 2004-2005.

Further, Pragati Power Corp intended to install Pragati II plant of 350 MW, which had already been approved by Delhi cabinet, and the work was going to start shortly.

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