SJVNL third quarter net profit up 19 per cent to Rs 235 crore – EQ Mag Pro
In a statement, SJVN Chairman and Managing Director Nand Lal Sharma said the company has recorded the highest-ever power generation of 1,480 million units (MU) for the period, surpassing 1,280 MU generation during the corresponding period last fiscal
State-owned SJVN Ltd on Thursday posted a 19 per cent jump in its consolidated net profit to Rs 235.46 crore in the December 2021 quarter, mainly on the back of higher revenue.
The company had reported a consolidated net profit of Rs 197.57 crore in the quarter ended December 31, 2020, according to a BSE filing.
Its total income during October-December 2021 rose to Rs 610.45 crore, compared with Rs 533.57 crore in the year-ago period.
The board of directors in the aforesaid meeting have also approved an interim dividend of Rs 1.15 per equity share (of face value Rs 10 each) for 2021-22.
The record date for the same is fixed on February 22, 2022. The payment of the dividend will start from February 28, 2022.
In a statement, SJVN Chairman and Managing Director Nand Lal Sharma said the company has recorded the highest-ever power generation of 1,480 million units (MU) for the period, surpassing 1,280 MU generation during the corresponding period last fiscal.
Sharma lauded the collective efforts and hard work of the employees.
“These positive growth percentiles are a result of optimum utilisation of our operating units, relentless quest to better power generation records, adopting best financial practices and strategic focus on capacity addition in the portfolio of the company,” he said.
He also shared that SJVN has been granted Category ‘1’ licence by CERC for inter-state trading in electricity for the whole of India. Now, SJVN aims to be a one-stop source for any generator and consumer wanting to trade power in the country.
Sharma said SJVN has been accorded approval by the Ministry of Finance for creating a subsidiary company for the development of renewable energy projects.
This will facilitate the development of renewable energy, including the battery energy storage system, wave, biomass, small hydro and green hydrogen projects.
In another major development, PIB (public investment board) has recommended an investment proposal for the 382-megawatt (MW) Sunni Dam Hydro Electric Project, Himachal Pradesh, at the estimated cost of Rs 2,614.51 crores.
Recently, SJVN has submitted to the Government of Rajasthan a letter of intent to develop 10,000-MW solar power projects in the state during MoU/ LoI-signing ceremony of the Rajasthan government on February 8 at Jaipur.
The addition of various hydro and renewable energy projects in the kitty of SJVN has resulted in upscaling of a shared vision to achieve an installed capacity of 25,000 MW by 2030 and 50,000 MW by 2040.
Source : PTI
