Delhi Transco Limited –– the government-run utility for power transmission in the Capital that was under a pile of humungous losses, almost akin to a sick unit –– has now met all the required standards for getting the Mini-Ratna status conferred on profit-making PSUs.
In the latest meeting held last week, the board of directors decided to vie for the coveted status.
For the first time, Transco will also give out a dividend of Rs 710.24 lakhs.
“For a company that had huge accumulated losses until 2005, this is a complete turnaround,” said a senior Transco official.
The company has not only earned profits, but also increased its profit after taxes by 48 per cent.