Meja Urja Nigam Pays First Dividend of Rs 102 cr

New Delhi, Oct 4 (PTI) UP-based Meja Urja Nigam Pvt Ltd (MUNPL) has paid first dividend of Rs 51 crore each to its parent companies NTPC and UPRVUNL.

MUNPL is a 50:50 joint venture (JV) of state-owned NTPC Ltd and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL).

The company has paid a final dividend of Rs 51 crore to NTPC for FY24. Another dividend of Rs 51 crore was paid to UPRVUNL last week.

This is the first ever dividend paid by MUNPL, a company official said.

A team of MUNPL led by company's Chairman K. Shanmugha Sundaram, CEO Kamlesh Soni and CFO Amit Rautela handed over the ceremonial cheque to NTPC CMD Gurdeep Singh on Friday in the national capital.

The team will provide the cheque to UPRVUNL management next week.

The dividend was approved at MUNPL's 16th Annual General Meeting recently.

MUNPL reported a revenue of Rs 4,283 crore and a net profit of Rs 348 crore in FY24. The company achieved highest gross commercial generation of 8,276 million units at its 2X660 MW thermal unit at Meja, Uttar Pradesh.