IREDA pays dividend to Farooq Abdullah

Indian Renewable Energy Development Agency (IREDA) has presented a cheque of Rs.14.54 crore towards dividend for the financial year 2009-10 to Farooq Abdullah, Union Minister for New & Renewable Energy, here on Monday.

The dividend payment to the Government of India by IREDA has increased by 29.24% as compared to the last year. The dividend cheque was presented in the presence of Shri Deepak Gupta, Secretary, MNRE.

During the year 2009-10, IREDA registered creditable success and excellence in all facets of its activities. IREDA has posted a robust all-round performance with an all-time high Profit Before Tax (PBT) at Rs. 141.05 crore registering a 64.20% rise over the previous fiscal, and earning a Profit After Tax (PAT) of Rs.72.69 crore.

Loan sanctions and disbursements during the year stood at Rs.1823.91 crore and Rs.890.03 crore as compared to Rs.1489.93 crore and Rs.770.95 crore in the last fiscal.

The principal sectors which are being funded by IREDA are Wind, Small Hydro, Co-generation, Biomass Power and Solar Thermal. The cumulative commissioned renewable power generation capacity addition, as on 31st March 2010, on account of IREDA?s lending operations stood at 2360 MW.

Meanwhile, India’s second-biggest gold importer MMTC Limited, has presented a dividend cheque of Rs.44.70 crore towards 90% dividend for the financial year 2009-10 to Anand Sharma, Union Minister of Commerce and Industry, here on Monday.

MMTC has achieved the highest ever Profit After Tax of Rs.216 crore with turnover of Rs.45,124 crore during financial year 2009-10. The company has declared dividend @ 90% amounting to Rs.45 crore for the year 2009-10.

During the year 2008-09, MMTC had paid dividend of 80%. During the current year 2010-11, MMTC has also given bonus shares in the ratio of 1:1.