SJVNL declares a profit of Rs 972.74 crores

Proposes a final dividend of Rs 0.60

Shimla: SJVNL, the public sector power generating company, today announced its yearly results declaring a profit after tax at Rs 972.74 crore for 2009-10 and proposed a final dividend of Re 0.60 per share resulting in an outflow of Rs 248.20 crores.

Earlier the company had already declared an interim dividend of Re 0.19 per share amounting to a total of Rs 80 crores. Compared to a yearly dividend of Rs 320 crore in 2008-09, this year the total dividend outgo is Rs 328.20 crores, a company communiqué stated.

Though the company recorded revenue increase of Rs 161 crore because of increased generation at its 1500 MW Jhakri hydropower plant, but the overall income of the company took a hit due to an Rs 271 crore arrear billing payment on account of issuance of final tariff orders for the period 2004-09.

Against a generation of 6609 million units (MU) in 2008-09 from its mega plant, the generation had increased to 7019 MU in 2009-10.

SJVN which came out with its IPO of 41.5 crore equity shares in May, has accumulated reserves of Rs 2547 crore and besides operating the country largest hydropower plant is funding the execution of 412 MW Rampur project from internal reserves. The project is scheduled for commissioning in 2013.

SJVN, which is a Himachal government and union government joint venture company, is in the process of 4000 MW capacity addition from its 10 projects under various stages of construction and investigation.

It is implementing three projects in Himachal Pradesh, three projects in Uttarakhand, one project in Manipur besides two projects in neighboring country Bhutan and one project in Nepal .

The Company has also entered the business of power transmission with the commencement of investigation for laying transmission lines for its upcoming 900 MW Arun-III project in Nepal.

It also has plans of capacity addition in the fields of solar and wind power.

During the first quarter of 2010-11, the company has recorded a generation of 2424.572 million units against a target of 2233.346 million units.

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