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Tata Power Delhi Distribution has paid a dividend of about Rs 125 crore to its shareholders, the Delhi Government and Tata Power.
"The Delhi Government which holds 49% stake in the company received over Rs 61 crore as dividend, while the majority stakeholder Tata Power received close to Rs 63 crore for its entire shareholding - equity and preference shares respectively," Tata Power Delhi Distribution said in a statement.
The dividend of Rs 61 crore is the highest dividend paid by the electricity distribution company to Delhi Government till date.
Praveer Sinha, CEO & ED, TPDDL said, "Delhi government used to lose Rs 1,500-2,000 crore a year in power distribution and the annual burden could have increased to Rs 4,000 crore today."
However, Tata Power Delhi Distribution brought down its transmission and distribution losses to record low of 10.5% and has managed to become a profitable venture.
"We do have regulatory overhang of about Rs 5,000 crore and we are hopeful that the regulator will enable us to recovery as per the road map," Sinha said.
