Tuesday, October 4, 2022

SJVN net jumps over 78% to Rs 609 crore in June quarter

SJVN Limited on Friday posted an over 78 percent jump in consolidated net profit to Rs 609.23 crore in the June quarter, mainly on the back of higher revenues

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New Delhi: The green-energy producer SJVN Limited on Friday posted an over 78 percent jump in consolidated net profit to Rs 609.23 crore in the June quarter, mainly on the back of higher revenues.

The consolidated net profit of the company stood at Rs 342.13 crore in the year-ago period, according to a BSE filing.

The company’s total income rose to Rs 1,072.23 crore in the June quarter from Rs 704.90 crore in the same period a year ago.

SJVN’s board of directors at its meeting on Friday also approved the proposal of monetisation of partial earnings of the Nathpa Jhakri Hydro Power Station (NJHPS) through securitisation of its future revenues.

Nand Lal Sharma, the Chairman and Managing Director of SJVN, said in a statement that SJVN’s net worth has jumped to Rs 13,735.99 crore at the end of the first quarter of 2022-23 as compared to Rs 13,100.97 crore in the corresponding period of the previous year.

During the quarter, the SJVN upped its earnings per share by 80.23 percent as compared to the 1st quarter of the previous year.

Sharma said the Government of Rajasthan has agreed to sign an MoU with SJVN for developing 10,000 MW of renewable energy in the state.

In addition, SJVN has also secured a 200 MW Solar Power project through an e-Reverse auction by Maharashtra State Electricity Distribution Company Limited (MSEDCL).

Sharma also stated that with more than 50 projects in the pipeline, SJVN is all set to achieve the CAPEX target of Rs 8,000 crore set by the Ministry of Power for the Financial Year 2022-23.

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