MUNPL Announces Rs 350 Crore Interim Dividend Amidst Strong Growth

Meja Urja Nigam Pvt Ltd (MUNPL) declared an interim dividend of Rs 350 crore for FY 2024-25. The dividend distribution will be equally shared between NTPC Ltd and UPRVUNL. MUNPL continues expansion with a 5600 MW capacity addition and an ash brick plant inauguration.

Meja Urja Nigam Pvt Ltd (MUNPL), based in Uttar Pradesh, has announced a substantial interim dividend of Rs 350 crore for the current fiscal year. This decision, approved by the company's board, underscores MUNPL's strong financial footing and operational success.

The interim dividend is set to be distributed equally between the promoter entities, NTPC Ltd and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL), by the end of this week. According to the company's statement, each ordinary share of Rs 10 will yield Rs 0.96, cumulatively amounting to Rs 350 crore.

CEO Kamlesh Soni highlighted MUNPL's ambitious expansion plans, including a significant capacity addition of 5600 megawatts. In line with its commitment to sustainability, the company has inaugurated an ash brick plant to produce 12 lakh eco-friendly bricks annually. Despite these investments, CFO Amit Rautela emphasized that the interim dividend reinforces confidence in MUNPL's consistent growth and robust performance, marked by a revenue of Rs 4,283 crore and a net profit of Rs 348 crore in FY24.

(With inputs from agencies.)