SJVN Q1 results: Net profit rises nearly 13% to Rs 342 cr

New Delhi, State-run SJVN Ltd on Saturday posted nearly 13 per cent rise in its consolidated net profit at Rs 342.13 crore in the June quarter mainly on the back of higher revenues. The consolidated net profit of the company was Rs 303.90 crore in the quarter ended on June 30, 2020, a BSE filing said.

Total income rose to Rs 704.90 crore in the quarter from Rs 714.19 crore in the same period a year ago.

SJVN Chairman and Managing Director Nand Lal Sharma said that the company's networth has jumped to Rs 13,100.97 crore at the end of 1st quarter of 2021-22 as compared to Rs 12,332.85 crore in the corresponding period of the previous year, which is an excellent feat considering the recent global economic turmoil due to pandemic situation.

During the quarter, SJVN had upped its earning per share, registering an increase of 11.69 per cent as compared to the first quarter of the previous fiscal year.

Similarly, the company has accounted for an increase of 6.25 per cent in the Book Value as compared to the 1st quarter of the previous year.

Sharma also said that SJVN has bagged 200 MW Grid connected solar PV power project in Bihar through open competitive tariff bidding process for quoted capacity of 200 MW at the rate of Rs 3.11 /Unit on Build Own and Operate (BOO) basis during e-reverse auction.

SJVN has also set all-time record of power generation from all its generating units including renewable projects in the month of July 2021 with 1,580 MU ( million units), surpassing the previous record of 1563 MU in July 2020.

Currently, SJVN has a portfolio of more than 9,000 MW and is executing 27 projects in hydro, thermal, solar and wind sector in India, Nepal & Bhutan. Of these projects, six are under operation, eight are under construction and 13 projects are under survey & investigation.

The company has chartered a blueprint of its journey which is manifested in its 'Shared Vision' i.e 5,000 MW by 2023, 12,000 MW by 2030 and 25,000 MW by 2040.