Shimla: Even though profit of power generating utility, Satluj Jal Vidyut Nigam Ltd. (SJVNL) is expected to be lower than the previous fiscal, but for the consistency in performance it has delivered, the central governments has conferred the prestigious “Mini Ratna : category-I” status on public sector undertaking.
A company spokesman stated that the corporation has the distinction of being conferred the coveted status within only four years of coming into commercial operations.
Grant of the new status grants enhanced autonomy including delegation of financial powers to the profit making companies under certain laid down guidelines and eligibility conditions to make them efficient and competitive.
SJVNLâ€™s 1500 MW Nathpa Jhakri hydro generation plant has been consistently improving power generation since coming into full commercial production in May 2004.
During 2007-08 the station generated 6432 million units of energy where as in 2006-07 it had achieved 6014 million units. In 2005-06 the power generation was 4104 million units and in 2004-05 it was 5147 million units.
For the year 2006-07 the net profit was Rs 732 crore while for 2007-08 the provisional net profits stands at Rs715.75 crore.
Out of its profits for 2007-08 SJVNL has already paid a interim dividend of Rs.102 crore central government and Rs 34 crore to Himachal government, who hold 75:25 equity in the project. For the year 2006-07 the company had paid a dividend of Rs.235 crore.