NEW DELHI: Pragati Power Corporation Limited, a wholly owned undertaking of the Delhi Government, has earned a profit after tax of Rs. 47.94 crores on a turnover of Rs. 478 crores during the financial year 2005-06 and paid the Government a dividend of Rs. 14 crores.
The Corporation operates the 330 MW combined cycle power plant that was commissioned in 2003 and is meeting the power needs of Delhi. During 2005-06, the gross generation at the plant was 2,299 million units with a plant load factor of 79.53 per cent.
The company in a release said it had been consistently earning profits and last year an amount of Rs. 31.5 crores was paid to the Delhi Government towards dividend for the financial years 2003-04 and 2004-05.
The company is now working towards installing the Pragati II plant of 350 MW for which the Delhi Cabinet has already given its approval. Work on this new plant is expected to start soon.