MUNPL Pays First Dividend of Rs 51 Crore Each to NTPC and UPRVUNL

MUNPL, a joint venture between NTPC and UPRVUNL, has paid its first-ever dividend of Rs 51 crore to each parent company for FY24. The company reported significant financial achievements, including a revenue of Rs 4,283 crore and highest gross commercial generation at its thermal unit.

In a landmark financial move, Meja Urja Nigam Pvt Ltd (MUNPL), situated in Uttar Pradesh, has disbursed its inaugural dividend of Rs 51 crore to each of its parent entities: NTPC Ltd and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL).

This dividend marks a significant milestone for the company, representing the first payout since its inception as a 50:50 joint venture of the state-owned firms. The ceremonial cheque was handed over by MUNPL's officials, including Chairman K. Shanmugha Sundaram, CEO Kamlesh Soni, and CFO Amit Rautela, to NTPC CMD Gurdeep Singh in the capital city.

MUNPL has recorded notable fiscal achievements with revenues hitting Rs 4,283 crore and securing a net profit of Rs 348 crore for FY24. The enterprise also celebrated a peak gross commercial generation of 8,276 million units at its Meja-based 2X660 MW thermal unit, fortifying its position in the energy sector.

(With inputs from agencies.)