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PowerGrid pays total dividend of Rs 2,275.74 cr for 2016-17

Press Trust of India  |  New Delhi 

State-run central transmission utility Power Grid Corp today said it has paid a total dividend of Rs 2,275.74 crore to its shareholders in 2016-17.

Power Grid Corp has declared final dividend of Rs 1,752.59 crore in addition to Rs 523.15 crore of interim dividend totalling Rs 2,275.74 crore for 2016-17, a company statement said.

The chairman and managing director of the corporation, I S Jha, presented a cheque of Rs 980.73 crore towards final dividend for 2016-17 to Power Minister on October 12, 2017, it said.

In addition to this, an interim dividend of Rs 292.76 crore was earlier paid to the Ministry of Power for 2016-17. The total dividend of Rs 2275.74 crore declared by Power Grid Corp is 43.50 per cent of paid-up share capital.

It said that the company has been consistently paying dividend since 1993-94. It has registered a net profit of Rs 7,520.15 crore over a total of Rs 26,581.46 crore in 2016-17, registering a growth of 26.42 per cent in net profit and 25.13 per cent in total compared to FY2015-16.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 13 2017. 17:57 IST