The board of director of GIPCL have recommended a higher dividend of 20 per cent to its share holders as compared to 18 per cent of last financial year, a company release said.

The Vadodara-based GIPCL, generating and distributing power to major industries in and around the city, has registered a 150.28 per cent higher turnover of 418.6 crore during the financial year as against 167.26 crore of the previous year. The 145mw power plant of GIPCL, which achieved the highest PLF of 89.90 per cent, contributed significantly to the profit of the company during the financial year.

Unit-I of the company's lignite based power plant at Mangrol near Surat, adopting the latest circulating fluidzed bed combustion (cfbc) technology is ready to commissioning.