Meja Urja Nigam board approves first dividend payment to NTPC, UPRVUNL
The dividend will be paid in a ratio of 50:50 to promoter entities NTPC Ltd and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL).
Meja Urja Nigam board approves first dividend payment to NTPC, UPRVUNL
UP-based Meja Urja Nigam Pvt Ltd (MUNPL) said its board, approved the first interim dividend of Rs 350 crore for the current financial year. The dividend will be paid in a ratio of 50:50 to promoter entities NTPC Ltd and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL) by this week, the company.
"The Board of Directors on Tuesday approved the payment of an interim dividend of Rs. 0.96 per ordinary share of Rs 10 each, totaling Rs 350 crore for the current 2024-25 fiscal year," MUNPL said. CEO Kamlesh Soni said the company is actively pursuing a significant capacity addition of 5600 megawatts (MW).
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CFO Amit Rautela said, "This is the first interim dividend for the running financial year. It will build the promoters' and all stakeholder's confidence in the company, which is a result of the strong financial performance, operational efficiency, and consistent growth achieved by MUNPL.
MUNPL reported a revenue of Rs 4,283 crore and a net profit of Rs 348 crore in FY24. The company achieved the highest gross commercial generation of 8,276 million units at its 2X660 MW thermal unit at Meja, Uttar Pradesh.
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