In the three months that concluded on March 31, the state-owned SJVN’s consolidated net profit increased by more than double to Rs 17.21 crore thanks to increasing revenue.
In the January through March quarter of the year before (FY22), it recorded a net profit of Rs 7.49 crore, the business said in a regulatory filing on Monday.
The hydropower producer said that the company’s overall revenue increased to Rs 582.78 crore from Rs 393.87 crore in the same period last year.
The company’s costs were Rs 328.98 crore as opposed to Rs 366.13 crore in the prior year.
A final dividend of Rs 0.62 per share worth Rs 10 has also been authorized by the company’s board of directors for FY23.
SJVN CMD Nand Lal Sharma claimed in a separate statement that the business had “recorded highest ever” sales of Rs 3,299 crore for the fiscal year 2022–23.
The profit after tax (PAT) for the full fiscal, which was Rs 1,363.45 crore, was 39.48% more than Rs 977.52 crore in FY22.
According to him, SJVN’s net worth has also climbed by Rs 694 crore to Rs 13,822 crore.
Sharma said that SJVN has accomplished its challenging Capital Expenditure (CAPEX) goal for the fiscal year 2022–2023. The corporation has exceeded the 8,000 crore goal set by the Ministry of Power with Rs 8,240 crore.
Sharma informed the audience that the third-highest CAPEX goal among electricity CPSEs for FY 2022–23 was Rs 8,000 crores.
SJVN is now on track to fulfill its enormous CAPEX goal of Rs 10,000 crore for FY 2023–24. In India and its neighbor Nepal, SJVN is currently building 14 power projects and 2 transmission lines.
SJVN outperformed the previous year’s production of 9207 million units (MU) by generating 9,283 MU from all of its power plants in FY 2022–23.
