SJVN records 42% increase in profit in six months

SJVN recorded an increase of 42 percent to Rs 1058.86 crore from Rs 745.61 crore Profit After Tax (PAT) in the first half of the current fiscal year,

Speaking after Company's Board Meeting held in Shimla, Nand Lal Sharma, Chairman and Managing Director, said that in first half of current fiscal year, the Revenue from Operations has surged by about 22 percent to Rs 1886.99 crore from Rs 1547.44 crore during corresponding period of previous fiscal year.

Likewise, Total Revenue has also increased to Rs 1991.76 crore during FY 22-23 as compared to Rs 1629.37 crore recorded in previous fiscal translating into 22 percent rise.

Sharma further informed that SJVN has upped its Earning Per Share (EPS) by registering an increase of 42 percent to Rs 2.70 in first half of the fiscal as compared to Rs 1.90 of previous fiscal. Besides this, Company's Net Worth increased to Rs 13,970.52 crore from Rs 13,349.21 crore as on 30.09.2021.

Apprising about recent developments, Sharma said that during the second quarter of current fiscal year, SJVN has added two more Floating Solar projects of 105 MW and 83 MW capacity in Maharashtra & Madhya Pradesh respectively to its kitty. During the quarter, the company achieved highest ever September month's power generation of 1339 MU from all six power stations in September 2022 surpassing all previous records. 1500 MW Nathpa Jhakri Hydro Power Station has achieved highest ever daily generation of 39.526MU on 30th August 2022. 412 MW Rampur Hydro Power Station has also generated highest ever September month's power generation of 290.409MU this year.

Currently, SJVN has portfolio of around 42,000 MW with 70 projects in various stages of development in India & abroad and is set to achieve the CAPEX target of Rs 8,000 during financial year 2022-23. These recent developments will help in achieving SJVN's Shared Vision of 5000 MW by 2023, 25,000 MW by 2030 & 50,000 MW capacity by 2040.