KREDL Presents ₹40.53 Crore Dividend Cheque to CM

₹5 Crore Contributed to the Chief Minister’s Relief Fund

Bengaluru, Jan 3: Energy Minister K.J. George presented a dividend cheque of Rs 40,53,59,320, earned during the financial year 2023-24, to Chief Minister Siddaramaiah at Vidhana Soudha on Thursday.

Karnataka Renewable Energy Development Limited (KREDL) recorded a net profit of ₹135.12 crore in 2023-24, declaring a 30% dividend amounting to Rs 40,53,59,320. The Chief Minister received the cheque for the dividend amount at his office in Vidhana Soudha.

Mr. T.D. Rajegowda, MLA, and Chairman, KREDL, Mr. Gaurav Gupta, Additional Chief Secretary, Energy, and Mr. K.P. Rudrappaiah, Managing Director, KREDL, were present on this occasion.

In its 106th Board of Directors meeting held last October, KREDL presented its accounts for the financial year 2023-24. In the 105th Board of Directors meeting in August 2024, approval was granted to provide financial assistance of ₹5 crore to the Chief Minister’s Relief Fund.

This proposal was subsequently ratified at the 28th General Body Meeting of the shareholders held in December 2024.

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