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| NHPC hosts 45th Annual General Meeting | | |  Early Times Report
JAMMU, Sept 30: NHPC Limited hosted its 45th Annual General Meeting (AGM) through video conferencing from its Corporate Office, Faridabad. The management of the company recommended a dividend of Rs 1.60 per equity share for the year 2020-21, which is inclusive of interim dividend of Rs 1.25 per equity share paid in March 2021. AK Singh, CMD, NHPC addressed the shareholders at the AGM wherein members of NHPC Board and Company Secretary, NHPC were also present. CMD highlighted key achievements made by NHPC despite the challenges posed due to CoVID-19 pandemic. Singh informed that NHPC earned its highest ever profit of Rs 3233 crore in financial year 2020-21, which is 7.52 percent higher than the previous year. He further highlighted upon NHPC's achievements during financial year 2020 21 on various operational and financial fronts. He said that NHPC had generated 24,471 MUs of electricity against the Design Energy of 23,612 MUs. Singh informed that NHPC achieved its highest ever realization of outstanding dues of Rs 10,114 crore from beneficiaries and made a contribution of Rs 1,118.90 crore to Government of India's exchequer through dividend. Singh also informed about the successful acquisition of Jalpower Corporation Limited (JPCL) as a wholly owned subsidiary company for the implementation of Rangit-IV HE Project (120 MW) in Sikkim through Corporate Insolvency Resolution Process (CIRP) and elimination of teething problems at Kishanganga Power Station, thereby increasing the annual generation of the power station by 30.86% year-on-year. He further said that in line with the strategic intent to ensure sustained growth, NHPC has formed a Joint Venture Company (Ratle Hydroelectric Power Corporation Limited) with Jammu and Kashmir State Power Development Corporation Limited on June 1, 2021 with equity participation of 51:49 respectively, for implementation of Ratle Hydroelectric Project (850 MW) in the Chenab River Basin in Union Territory of Jammu and Kashmir. CMD, NHPC also highlighted that during the first quarter of current financial year 2021-22, the net profit of NHPC was Rs.912.26 crore thereby registering a growth of 26% as compared to first quarter of previous year. Various queries of members regarding performance of the Company were also addressed at the AGM. |
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