ONGC Tripura Power Company (OTPC) on Thursday announced that it has become the first dividend paying standalone gas-based power generation company in the country. In an official statement, OTPC, a joint venture company of ONGC, IL&FS, IDFC and Government of Tripura, said that it had reported a net profit of ₹130.45 crore during the financial year 2016-2017. This is nine times the ₹12.96-crore net profit earned during the financial year 2015-2016.
OTPC also declared maiden dividend of 7.5 per cent of paid-up equity share capital of ₹1,120 crore amounting to ₹84 crore for the financial year 2016-2017. The company operates a 726-MW gas-based combined cycle power plant at Palatana in Tripura. The plant alone meets around 35 per cent power requirement of North Eastern States.