SJVNL pays Rs 176 crore dividend to Centre

Shimla, Oct 13 (UNI) Public Sector Satluj Jal Vidyut Nigam (SJVNL) has paid a dividend of Rs 176 25 crore to the Centre against its net profit of Rs 732.71 crore during 2006-07, a company spokesman said today.

Besides an interim dividend of Rs 50 crore already paid, a cheque of Rs 126.25 crore has already been handed over to Union Minister of Power Sushil Kumar Shinde by the Company's CMD H K Sharma at New Delhi.

Presenting the cheque to Mr Shinde, the CMD informed that during 2006-07, the company had earned a net profit of Rs 732.71 crore which was 47 per cent higher, as against Rs 498.22 crore profit earned last year.

The Company had declared a dividend of Rs 235 crore to equity partners of Centre and Himachal in the ratio of 3:1, he said.

A dividend of Rs 42.08 crore would be paid the Himachal Government shortly while and interim dividend of Rs 16.67 crore had already been paid, he said.

The spokesman said power generation in the 1,500 MW Nathpa Jhakri Hydro Power Station during the period also surged 47 per cent from 4,055 million unit (MU) to 5941 MU.

While Himachal Pradesh was being provided 12 per cent free power besides getting 25 per cent of the balance generation at bus bar rates, he said.

The remaining 66 per cent power was being supplied to the beneficiary states of Delhi, Rajasthan, Uttar Pradesh, Uttrakhand, Jammu and Kashmir, Himachal Pradesh, Haryana, Punjab and Chandigarh.

UNI