Declares 32% dividend
Satluj Jal Vidyut Nigam Ltd (SJVNL), the central public sector power generator based in Himachal Pradesh reported a record Rs 732.71 crore profit for 2006-07, which is 47 % higher than the previous year. The company board at a meeting on Friday declared a 32% dividend.
Company spokesman Vijay Verma said “against a net profit of Rs 498.22 crore in 2005-06, SJVNL recorded a profit of Rs 732.71 crore in 2006-07. At a meeting held at Delhi on Friday, the company board has declared a 32 % dividend amounting to Rs 235 crore.”
The Nigam which operates the 1500 MW Nathpa Jhakri hydro plant on Satluj River, is a joint sector company in which the state and centre hold equity in the ratio of 1:3.
During the current financial year the power station has already generated 3672.5 million units (MU) of electricity which is not only 359.5 MU more then the target but is also 617.84 MU more than the corresponding period last year. The power station has a targeted to generate 6720 MU of electricity during the current financial year.
While Himachal Pradesh is supplied with 12% of the electricity generated at the country’s largest Hydro Power Station free of cost, it also gets 25% of the balance generation at bus bar rates. The remaining 66% electricity is supplied to the beneficiary states of northern grid namely Delhi, Rajasthan, Uttar Pradesh, Uttrakhand, Jammu & Kashmir, Himachal Pradesh, Haryana, Punjab & Chandigarh.