SJVN poised for record generation: Reports 191.50 Cr profit in December quarter

Shimla: Public sector power generation company SJVN in which Himachal Government has 25% shareholding reported a 3.25% profit increase in the third quarter over the corresponding period last year even though it recorded an over 7% revenue increase in the quarter and is poised to surpass the last years record generation targets.

For the quarter ending December, 2010 SJVN made sales of Rs 396.41 crores , whereas it was Rs 369.89 crore in the corresponding quarter in 2009, said Vijay Verma, AGM at SJVN.

Against an net profit of Rs 185.46 crore in December 2009 quarter, the company has increased its profit to Rs 191.50 crore in 2010, he said. SJVN declared it financial results after holding a board meeting on Wednesday at Delhi.

Power generation at the company’s flagship, 1500 MW Nathpa Jhakri Hydro Power Station also registered an increase of 70 Million Units (MU) for the April – December period.

Whereas SJVN had achieved an overall generation of 6332 MU till December 2009 at the Jhakri power station, in 2010 the same plant has recorded 6402 MU of power generated between April and December 2010, said the SJVN executive.

With the generation achieved during the period being 276 MU more than the targets set out by union power ministry, the 1500 MW power station, which happens to the largest plant of such a kind in the country, it is heading for a record gerneration.

In 2009-10 the Jhakri station had a record generation of 7019 MU of power and with total power upto 2nd Februray generated being 6665 MU, the company is heading to surpass last years generation by close of the financial year in March.

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