NTPC to pay Rs 2,500 cr in dividend to government

Thermal power producer NTPC on Tuesday said that it posted over 10 per cent rise in its net profit for the third quarter ended December 31, 2013 and announced that it will pay an interim dividend of nearly Rs 2500 crore to the government.

NTPC reported a profit after tax at Rs 2,861.28 crore for the third quarter ended December 31, mainly due to higher electricity generation.

The company had reported a profit after tax of Rs 2,596.76 crore in the corresponding period of 2012-13, NTPC said in a statement.

The state-run company also announced an interim dividend of nearly Rs 3,300 crore.
“The Board of Directors have recommended highest ever interim dividend at 40 per cent of paid up equity share capital being Rs 4.00 per equity share for the financial year 2013-14,” statement said.

The Central government, which holds 75 per cent stake will get nearly Rs 2,500 crore by way of dividend. The dividend will be paid on February 10, 2014.

The company attributed the rise in net profit to higher plant availability factor at its projects. The unaudited total income for the third quarter was Rs 19,554.07 crore as against Rs 16,541.04 crore in the corresponding quarter in previous financial year 2012-13, a growth of 18.22 per cent.