Date:25/09/2008 URL: http://www.thehindu.com/2008/09/25/stories/2008092556680400.htm

New Delhi

Delhi Transco pays maiden dividend

Staff Reporter

Delhi Transco was carved out of the erstwhile Delhi Vidyut Board
It is responsible for power transmission in the Capital

NEW DELHI: Delhi Transco Limited has paid a dividend of over Rs.7.10 crore to the Delhi Government for the financial year 2007-08 following a financial turnaround by the company during the year.

This is the first time since its inception in 2002 that the company has achieved an operating profit and positive net worth.

Delhi Transco was carved out of the erstwhile Delhi Vidyut Board for transmission of electricity.

The company also had the additional responsibility of arranging power from different sources for the distribution companies till March 31, 2007.

Now it is responsible only for transmission of power in the Capital.

“This is the first time the company has declared dividend after incurring huge losses in 2002-03 and 2004-05. The company had earned profits in 2005-06 and 2006-07 but it is only in the financial year 2007-08 that it earned a huge operating profit of Rs.58.78 crore which marked the beginning of financial growth of the company,” said the company in a statement

Delhi Transco Director Rajendra Kumar along with Director (Human Resources) Raj K. Saxena and Director (Finance) Pawan Singh handed over the dividend cheque to Chief Minister Sheila Dikshit on Tuesday.