SJVNs Q1 Consolidated Net Profit Rises By 13.39 %

Shimla: SJVN on Saturday declared a standalone profit before tax (PBT) of Rs 445.07 crore for the June quarter of 2021-22. The PBT registered is Rs 69.93 Cr more than the Rs 384.14 Cr PBT recorded in the corresponding quarter last year, marking a 15.86% rise in PBT.

Sh. Nand Lal Sharma, CMD, SJVN Ltd

Speaking on the occasion of declaring the quarterly results, Sh. Nand Lal Sharma, Chairman and Managing Director, SJVN, said “SJVN registered a standalone net profit of Rs 339.54 crore in June 2021 quarter, which is a 12.77% increase from the Rs 301.08 Crore profit recorded in June 2020 quarter.”

The company recorded an overall standalone revenue of Rs 702.38 crore for the quarter reported.

The net worth of SJVN, the public sector mini-Ratna power company, jumped to Rs 13100.97 crore in June quarter of 2021-22, marking a sharp increase from Rs. 12332.85 crore for the corresponding period in the previous year.

“Considering the economic turmoil due to global pandemic, this is an excellent feat,” commented Sharma.

On a consolidated basis, SJVN reported a profit of Rs 341.72 crore for the June quarter, registering a 13.39% increase over the corresponding quarter from the last financial year. Against earnings per share of 0.77 in June 2020 quarter, the company reported an EPS of 0.87 for June 2021 quarter.

SJVN Bags 200 MW Solar Project In Bihar

Chairman and Managing Director, SJVN, Sh. Nand Lal Sharma shared that the company had bagged a 200 MW Grid-connected Solar PV Power Project in Bihar through an open competitive tariff bidding process.

On Friday, competing against three other bidders, SJVN in an e-Reverse auction by bidding Rs 3.11 per unit tariff for the 200 MW solar power project to be executed on a Build, Own and Operate (BOO) basis during e-Reverse Auction was the lowest bid for project floated by Bihar Renewable Energy Development Agency (BREDA).

“Tentative construction of the solar power project is Rs 1000 Crore,” said Sharma. “The project is expected to generate 420.48 million units (MW) of power, and SJVN has signed a 25-year power purchase agreement with BREDA,” he added.

Pushing for increasing its renewable power generation capacity, SJVN already has secured two solar projects in Gujarat and Uttar Pradesh that have a total generation capacity of 145 MW. SJVN targets to complete all three projects by March 2022.

SJVN currently has an installed generation capacity of 2016.5 MW, which includes 1912 MW of hydropower, 97.6 MW of wind power and 6.9 MW of solar power. With a portfolio of more than 9000 MW spread over India, Nepal and Bhutan, the company is operating 6 plants, 8 are under construction and another 13 are in various stages of survey, investigation and development.

Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.