OHPC pays interim dividend of Rs 30 cr to Odisha govt

Bhubaneswar: Odisha Hydro Power Corporation (OHPC) has paid an interim dividend of Rs 30 crore to the state government for the 2019-20 fiscal, an official said on Saturday.

BP Sethi, Chairman-cum-Managing Director, OHPC handed over the cheque to Chief Secretary A K Tripathy at the Lok Seva Bhawan here on Friday.

The power utility had paid a dividend of over Rs 31.57 crore to the state government in the 2018-19 financial year. The decision to pay an interim dividend of Rs 30 crore was taken in a meeting of the board of directors on July 16, OHPC director (finance) Pravakar Mohanty said.

According to the provisional estimates, the company posted a net profit of Rs 134.05 crore in FY 20 as compared to Rs 105.26 crore in the previous year.

During the FY 20, the power utility has earned Rs 471.24 crore by selling 5878.83 million units of energy, while it had mopped up a revenue of Rs Rs 478.83 crore in 2018-19.

As part of its corporate social responsibility, the company has extended support to the government for managing two COVID hospitals in Gajapati and Balasore districts. PTI

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