Sutlej Jal Vidyut Nigam records 61% rise in H1 net profit at Rs 1,221 crore

281669-profitPublic Sector Sutlej Jal Vidyut Nigam (SJVN) Ltd has recorded a 61 per cent rise in its net profit at Rs 1,221 crore for the first 6 months of this fiscal. The net profit of the company stood at Rs 758.87 crore in the corresponding period of the last financial year.

The company’s total income in the first 6 months increased by 55.52 per cent to Rs 2,011.03 crore from Rs 1,293.12 crore in the year-ago period. The PBT (Profit Before Tax) during the six-month period grew 62.81 per cent from Rs 929.19 crore to Rs 1,512.81 crore, a spokesman of the company said.

Resultantly, the company’s EPS during the period increased from Rs 1.83 to Rs 2.95. The Central Electricity Regulatory Commission (CERC) has approved the tariff for NJHPS for the period 2009-14 and an amount of Rs 571.25 crore on account of arrears has been included in sales.

During the financial year 2013-14, SJVN generated 7,183 million units of electricity against the MoU target of 6,930 million units. The company’s other two projects namely 412 MWRampur HE Project in Himachal Pradesh and 47.6 MW Khirvire Wind Power Project inMaharashtra are already in operation.

SJVN which has already diversified in the field of Wind Power, Thermal Power and Power Transmission is presently generating 2000 MW of electricity. The Company has the distinction of implementing India’s largest 1500 MW Nathpa Jhakri Hydro Power Station in Himachal Pradesh and the Company is implementing 10 other projects in Nepal, Bhutan, Arunachal Pradesh, Himachal Pradesh, Uttarakhand, Bihar and Maharashtra.

Source : DNA