SJVN’s Net rises 54% during April-December period of FY2014-15


    SJVNLSHIMLA: Mini Navratan Sutlej Jal Vidyut Nigam (SJVN) has recorded a 53.8 per cent increase in its profit after tax at Rs 1,491.67 crore during the first nine months of 2014-15.
    The net profit of the company stood at Rs 969.80 crore during the corresponding period in 2013-14.
    The board of directors has also declared an interim dividend of 63 paisa per equity share (face value Rs 10 each).
    While the company’s total income during the period increased by 53.40 per cent to Rs 2,653.97 crore, from Rs 1,730.08 crore; profit before tax grew 55.32 per cent to Rs 1,833.81 crore as against Rs 1,180.64 crore in the year-ago period, a spokesman of SJVNBSE 1.37 % said.

    The company’s EPS during the period has increased from Rs 2.34 to Rs 3.61.

    The Central Electricity Regulatory Commission (CERC) has approved the tariff for NJHPS for the period 2009-14 and as a consequence, an amount of Rs 571.25 crore, on account of arrears has been included in the sales.

    During the third quarter SJVN signed a project Development Agreement (PDA) for implementation of 900 MW Arun III Hydroelectric project with the Government of Nepal in Kathmandu.

    During this period SJVN also signed a MoU with Hindustan Salts Limited for setting up an Ultra Mega Renewable Energy Park in the State of Gujarat. SJVN which has already diversified in the field of Wind Power, Thermal Power and Power Transmission is presently generating around 2000 MW of electricity.

    Source : The Economic Times