SJVN posts more than double net profit of Rs 658 crore in Q2

New Delhi: State-owned SJVN Limited on Friday said its consolidated net profit for the September quarter more than doubled year-on-year to Rs 657.72 crore, mainly on the back of higher revenues.

The consolidated net profit was Rs 307.60 crore in the quarter ended on September 30, 2025, a regulatory filing showed.

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Total income rose to Rs 2,290.31 crore in the quarter from Rs 1.078.29 crore in the same period a year ago.

The company's total income surged to Rs 2,290.31 crore during the quarter ended September 30, 2026, from Rs 1,078.29 crore in corresponding period of the previous year, according to a regulatory filing.

In another exchange filing, the company stated that its Board of Directors also considered and approved a proposal to initiate the process of merger/amalgamation of SJVN Thermal Private Ltd, a wholly-owned subsidiary of the company, with SJVN Ltd, subject to the approval of the Government of India.

SJVN Thermal Pvt Ltd had a paid up capital of Rs 3,131.72 crore and a turnover of Rs 520.78 crore as on March 31, 2026.

The SJVN Thermal Pvt Ltd is engaged in thermal power generation and operates 1,320 MW Buxar Thermal Power Plant in Bihar.

The entire share capital of SJVN Thermal Pvt Ltd (STPL) is held by SJVN Ltd, making it a wholly owned subsidiary of the company. Accordingly, the continued existence of STPL as a separate legal entity does not offer any significant incremental benefit.

Rather, it stated that maintaining a separate corporate structure entails duplication of administrative and operational functions, multiplicity of statutory and regulatory compliances, additional expenditure, and increased deployment of managerial and organisational resources.

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It stated that merger of STPL with the company would facilitate the consolidation of operations, elimination of overlapping functions, rationalisation of resources, reduction in compliance and administrative costs, and improvement in operational efficiency, thereby serving the overall interests of both companies.

It further explained that as the merger is proposed between the company and its wholly owned subsidiary company, no consideration or share exchange ratio is applicable.

Since the company already owns 100 percent of the share capital of STPL, no change in the shareholding pattern is envisaged, it stated.

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