NTPC-SAIL Power Company Pvt Ltd (NSPCL), a 50:50 joint venture between two Maharatna companies, Steel Authority of India Limited and National Thermal Power Corporation Limited, paid a dividend of Rs. 52.27 crore to SAIL here today. The dividend cheque was presented to SAIL Chairman Mr. C.S. Verma by NSPCL Chairman Mr N.N. Misra in presence of Directors and senior officers of SAIL and NSPCL.
Ever since its inception a decade ago in March 2001, NSPCL has been a continuous dividend paying company. For the year 2010-11, NSPCL has paid out 11% of its equity to its two equity shareholders SAIL and NTPC. NSPCL recorded a total income of Rs. 1954.09 crore as against Rs 1400.75 crore in CPLY, with net profit after tax at Rs. 191.34 crore. Total power generation by NSPCL for year 2010-11 stood at 6685.45 million units (MU).
Well-planned measures in various areas of operation led NSPCL to achieve best results in the last fiscal. CPP-II of NSPCL achieved generation level of 2667.5 MU, the best ever since inception. Bhilai PP-III (2x250 MW), which was brought under commercial operation in the previous financial year, also generated 4017.9 MU during the same period.
SPCL pays Rs. 52.27 crore as dividend to SAIL
NSPCL Chairman Mr N.N. Misra (4th from right) presenting the dividend cheque to SAIL Chairman Mr C.S. Verma (4th from left) in presence of Directors and senior officers of SAIL and NSPCL at Ispat Bhavan.