The Indian government announced receiving a massive dividend from state-owned power company NTPC.
What Happened: The Secretary of the Department of Investment and Public Asset Management (DIPAM) announced on Friday, September 13, that the government has received about ₹1,610 crore from NTPC as a dividend tranche.
The government owns a 51% stake or around 495 crore shares of the company. The company had announced a final dividend of ₹3.25 per share for the year ended March 2024. The record date for the dividend payment was August 7.
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Last month, the company announced the commencement of commercial operations of the first part capacity of 160 megawatts from its Bhainsara Solar PV Project in Jaisalmer, Rajasthan. This development has contributed to the total installed and commercial capacity of the NTPC group reaching 76,294 megawatts.
NTPC’s consolidated net profit rose 12.20% to ₹5,506.07 crore in the June quarter, with its revenue from operations surging by 12.64% to 48,520.57 crore.
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