SJVN net profit rises 12.77% to Rs 339.54 crore in Q1 FY22

New Delhi: SJVN Limited's Chairman and Managing Director (CMD) Nand Lal Sharma announced the financial results for the Q1'FY22 ended June 30. The power PSU has posted a standalone profit before tax (PBT) of Rs 445.07 crore for the first quarter of the financial year 2021-22.

Speaking after the company's board meeting held in Shimla on Saturday, he stated that this reflects a nearly 16 percent rise in standalone PBT against Rs 384.14 crore during the corresponding quarter of the previous financial year. SJVN has also registered an increase of a 12.77 percent jump in its standalone net profit, reaching Rs 339.54 crore in June 2021 quarter from Rs 301.08 crore in the quarter ended in June 2020.

Sharma said that SJVN's net worth has jumped to Rs 13,100.97 crore at the end of the Q1'FY22 as compared to Rs 12,332.85 crore in the corresponding period of the previous year, which is an excellent feat considering the recent global economic turmoil due to pandemic situation. During the quarter, SJVN had upped its earnings per share registering an increase of 11.69 percent as compared to the 1st quarter of the previous year. Similarly, the company has accounted for an increase of 6.25 percent in the book value as compared to the 1st quarter of the previous year. Displaying an excellent financial performance during June ended the first quarter, the company has registered a total income of Rs 702.38 crore.

The CMD stated that it is a proud moment, that SJVN has bagged 200 MW Grid-connected Solar PV Power Project in Bihar through Open Competitive Tariff Bidding Process for quoted capacity of 200 MW @ Rs 3.11 per unit on build own and operate (BOO) basis during the e-reverse auction.

SJVN has also set all-time record of power generation from all its generating units including renewable projects in the month of July 2021 with 1,580 MU, surpassing the previous record of 1,563 MU in July 2020.

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