Satluj Jal Vidyut Nigam Ltd (SJVNL) declared a dividend of Rs.330.93 crore for its shareholders for the fiscal 2010-11.
Chairman and managing director of SJVNL, R.P. Singh told that in 2010-11, the company earned a profit before tax of Rs.1,156.20 crore against Rs.1,017.47 crore during the previous fiscal.
SJVNL, the sixth divestment deal of the United Progressive Alliance (UPA) government in its second term, is a joint venture between the central and the Himachal Pradesh governments. The central government sold 10 percent of its 74.5 percent stake in May this year. The remaining 25.5 percent is held by the state government. The profits of the power utility surged nearly 20 percent to Rs.348.21 crore for the first quarter of fiscal 2011-12.