KREDL records profit of ₹135 crore for FY 2023 – 24

Chief Minister Siddaramaiah receiving the dividend cheque for ₹40.53 crore from KREDL in Bengaluru on Thursday.
| Photo Credit: special arrangement

Karnataka Renewable Energy Development Limited (KREDL) recorded a net profit of ₹135.12 crore in 2023-24 and declared a 30% dividend which amounted to ₹40.53 crore. The cheque for ₹40.53 crore was presented to Chief Minister Siddaramaiah by Energy Minister K.J. George on Thursday.

A financial assistance of ₹5 crore was also given to the Chief Minister’s Relief Fund by KREDL.

“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 shareholders held in December 2024,” said a press release from the Energy Department.