KREDL Presents Rs 77.17 Crore Dividend to Chief Minister, Contributes Rs 5 Crore to Relief Fund
Bengaluru: Energy Minister Mr. K.J. George formally presented a dividend of Rs 77,17,50,000 (Rupees Seventy-Seven Crore Seventeen Lakh and Fifty Thousand) to Chief Minister Siddaramaiah today at Karnataka Power Corporation Limited (KPCL) headquarters. The dividend represents the financial performance of Karnataka Renewable Energy Development Limited (KREDL) for the fiscal year 2024-25.
KREDL reported a net profit of Rs 257.25 crore for the 2024-25 financial year, leading to the declaration of a 30% dividend, equivalent to Rs 77.17 crore. This substantial dividend payment underscores KREDL’s strong financial health and its significant contribution to the state’s revenue.
In addition to the dividend presentation, KREDL also contributed Rs 5 crore to the Chief Minister’s Relief Fund. This contribution aims to support the government’s efforts in assisting those affected by natural calamities and other emergencies within the state. The cheque was formally presented to Chief Minister Siddaramaiah during the same event.
The presentation ceremony was attended by key dignitaries, including Mr. T.D. Raje Gowda, Member of the Legislative Assembly (MLA) and Chairman of KREDL; Mr. Gaurav Gupta, Additional Chief Secretary, Energy; Mr. K.P. Rudrappaiah, Managing Director of KREDL; and other senior officials from KREDL. Their presence highlighted the importance of KREDL’s achievements and its role in promoting renewable energy development within Karnataka.