Shimla: A onetime arrears sales gain of Rs 571.25 crore increased SJVN’s profits from Rs 969.80 crore in last year’s corresponding period to a record Rs 1491.67 crore in the results that the public sector power generating company has declared. The good result has also enable the board to declare an interim dividend.
Company spokesman Bijay Prasad stated that with the Central Electricity Regulatory Commission having approved the tariff for 1500 MW Natpha Jhakri Plant for the period 2009-14, arrear sales of Rs 571.25 Cr have been included in the results declared.
With the company recording a 53.81% increase in profit after tax for 9 months of the current financial year, the SJVN board that met at Delhi yesterday has declared an interim dividend of Re 0.63 paisa per share of Rs 10/ equity value.
The company has reported an increase in income, mainly from electricity sales, from Rs 1730.08 Cr to Rs 2653.97 Cr over the 9 months corresponding period from last financial year. The earnings per share have also increased from Rs 2.34 to Rs 3.61, the company spokesman said.
During the third quarter period SJVN has signed a project Development Agreement (PDA) for implementation of 900 MW Arun III Hydroelectric project with the Government of Nepal in Kathmandu and signed a MoU with Hindustan Salts Limited for setting up an Ultra Mega Renewable Energy Park in the State of Gujarat.
SJVN currently is generating around 2000 MW of electricity.