OHPC pays Rs 30 cr interim dividend to Odisha govt

Bhubaneswar: Odisha Hydro Power Corporation (OHPC) has paid an interim dividend of Rs 30 crore to the State for the financial year 2019-20.

The cheque was presented to Chief Secretary Asit Tripathy in Lokseba Bhawan conference hall on Friday.

Receiving the cheque, Tripathy complimented efforts of OHPC team in power sector and advised them to further sharpen their capacity through adoption of latest technology and business reform.

On this occasion, OHPC Chairman Bishnupada Sethi said that the Board of Directors of OHPC in their meeting on 16 July of current year resolved to pay interim dividend of Rs 30 crore to government for the year 2019-20.

The balance amount for the year would be paid after finalization of the accounts.

Sethi added that last year the Corporation had paid Rs.31.57 crore as dividend to the State.

OHPC Director (Finance) Pravakar Mohanty mentioned, “OHPC has achieved 27.35% growth in its net profit for the year 2019-10 in comparison to the last fiscal. In the year 2018-19 the net profit of the Corporation after payment of all taxes was around Rs.105,26 crore which increased to Rs.134.05 Cr in the  year 2019-20.”

Further, Chairman and MD of OHPC Sethi appraised, “As a responsible corporate house of the State, OHPC has extended its CSR support in the shape of managing two Covid Hospitals- one in Gajpati and other in Balesore district with 112 and 120-bed capacity respectively.

As per directions of Government, Covid patients are being provided specialized treatment in these two hospitals free of cost. The cost is being borne from CSR fund of OHPC.”