OTPC Clocks Highest Ever Annual Gross Generation of 4170 MUs.
Declares maiden dividend of INR 84 Crore.
Registers net profit after tax of INR 130.45 Crore during FY 16-17, up 906% YoY.
During its Board Meeting held on 16th May 2017, ONGC Tripura Power Company (OTPC - a Joint Venture company of ONGC, IL&FS, IDFC and Govt of Tripura), has declared maiden dividend of 7.5% of paid-up equity share capital of Rs.1120 Crore amounting to Rs. 84 Crore for FY 16-17, within two years of commencement of full operation of Palatana Power Project. With this, OTPC becomes the first dividend paying standalone gas based power generation Company in the Country.
Major Performance Highlights for the FY 2016-17:
|Particulars||FY’2017||FY’2016||% increase (Y-o-Y)|
OTPC achieved highest ever gross generation of 4170 MUs during FY 16-17 which surpasses previous annual best of 3481 MUs during FY 15-16. The power company has achieved excellent performance on financial parameters also during FY 16-17. The Company has achieved a turnover of Rs 1297.89 Crore during FY 16-17 up 18% from Rs 1099.42 Crore during FY 15-16. The company registered a net profit after tax of Rs.130.45 Crore during FY 16-17, up 906% as compared to RS 12.96 Crore in the previous year, after providing for Interest of Rs 246.48 Crore (Rs.278.36 Crore in FY 15-16), depreciation of Rs 191.34 Crore (Rs.201.46 Crore in FY 15-16) and Tax liability of Rs 28.72 Crore (Rs 0.25 Lakhs in FY 15-16).
OTPC is registered as a CDM Project and 1.7 million Carbon Emission Reduction (CER) certificates have been issued by UNFCCC.
OTPC is operating a 726 MW gas based combined cycle power plant at Palatana in Tripura which is the largest in North-Eastern Region of the country. The Power utility plays a major role in meeting the power needs of the North Eastern Region contributing to its economic and social development by meeting around 35 % power requirement of North Eastern States.
Oil and Natural Gas Corporation Ltd.
Corporate Communications, New Delhi,