NTPC-SAIL Power Company pays Rs 86.28 crore dividend

NEW DELHI: NTPC-SAIL Power Company, a joint venture between state-run NTPC and SAIL, paid a dividend of over Rs 86 crore to the government.

The JV company paid total dividend of Rs 86.28 crore after tax which works out to 8.8 per cent of equity capital, NTPC said in a statement.

NTPC-SAIL Power Company recorded a total income of Rs 2,490.39 crore during 2013-14 and a Profit After Tax of Rs 246.59 crore. NTPC formed a joint venture with SAIL on 50:50 basis in March, 2001 in the name NTPC-SAIL Power Company Private Limited.

The JV company took over captive power plant-II located at Durgapur Steel Plant (2X60 MW) and Rourkela Steel Plant (2X60 MW) from SAIL.