State-owned gas major GAIL India has acquired 26 per cent equity stake in ONGC Tripura Power Company Limited (OTPC).
The stake was held by IL&FS Energy Development Company Ltd (IEDCL) and IL&FS Financial Services Ltd (IFIN). ONGC Tripura owns and operates a 726.6 MW gas-based combined cycle power plant in Palatana, Tripura.
In a separate release, GAIL, which is a Maharatna PSU under the Ministry of Petroleum & Natural Gas, said its board on December 23, 2021, declared the first interim dividend of 40 per cent on the paid-up equity share capital, which is 4 per equity share for FY 2021-22.
The total dividend amount released stood at ₹1,776.15 crore, with a record date of December 31, 2021. Accordingly, the company will also ₹913.84 crore to the government and ₹862.31 crore to other shareholders as first interim dividend for 2021-22.
GAIL (India) Limited is India’s leading natural gas company. For the quarter ending September, the PSU reported a net profit of ₹2,862.9 crore as compared to ₹1,239.6 crore in the year-ago period. Its revenue from operations increased 57.6% to ₹21,515 crore during the quarter under review, from ₹13,647 crore in the corresponding quarter of the previous fiscal.
The GAIL India share closed at ₹133.00, up ₹1.55, on the NSE today.
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