NSPCL pays total interim dividend of Rs 120 cr to NTPC, SAIL

NTPC-SAIL Power Company Ltd (NSPCL) has paid interim dividend of Rs 120 crore or 12.24 per cent of paid up equity share capital to the two equal promoter firms -- NTPC and SAIL.
While NTPC is the country's thermal power major, SAIL is a leading steel player. Both are state-owned firms.
"NSPCL paid interim dividend of Rs 120 crore (Rs 60 crore each to NTPC & SAIL) which works out to 12.24 of paid up equity share capital. The Dividend and Dividend distribution tax amounts to 59.57 per cent of Profit After Tax of Company achieved for the period April-December 2016," NTPC statement said.

For nine months to December, NSPCL recorded a provisional and unaudited total income of Rs 1,820.01 crore with a Profit After Tax (PAT) of Rs 242.45 crore.
Manash Sarkar, CEO, NSPCL alongwith S V Shahi, CFO, NSPCL presented dividend cheque of Rs 60 crore to Gurdeep Singh, CMD, NTPC. A dividend cheque of Rs 60 crore was also presented to P K Singh, CMD, SAIL.