SJVN logs 42% rise in net profit for first half of FY23

During the corresponding period of last fiscal, the company had reported at net profit of ₹745.61 crore.

Speaking after the company’s board meeting, Nand Lal Sharma, Chairman & Managing Director, SJVN said that in first half of current fiscal year, the revenue from operations surged by about 22% to ₹1,886.99 crore from ₹1,547.44 crore during corresponding period of previous fiscal year.

Likewise, total revenue has also increased to ₹1,991.76 crore during FY 22-23 as compared to ₹1,629.37 crore recorded in corresponding period of the previous fiscal translating into 22% rise, SJVN said in a statement.

The CMD said that SJVN has upped its Earning Per Share (EPS) by registering an increase of 42% to ₹2.70 in first half of the fiscal as compared to ₹1.90 of previous fiscal. Besides this, company’s net worth increased to ₹13,970.52 crore from ₹13,349.21 crore as on 30 September, 2021.

Apprising about recent developments, Sharma said that during the second quarter of current fiscal year, SJVN has added two more Floating Solar projects of 105 MW & 83 MW capacity in Maharashtra & Madhya Pradesh respectively to its kitty.

During the quarter, the company achieved highest ever September month’s power generation of 1339 MU from all six power stations in September 2022 surpassing all previous records. 1500 MW Nathpa Jhakri Hydro Power Station has achieved highest ever daily generation of 39.526MU on 30 August 2022. 412 MW Rampur Hydro Power Station has also generated highest ever September month’s power generation of 290.409MU this year.

Currently, SJVN has portfolio of around 42,000 MW with 70 projects in various stages of development in India & abroad and is set to achieve the CAPEX target of ₹8,000 during financial year 2022-23. These recent developments will help in achieving SJVN’s Shared Vision of 5000 MW by 2023, 25,000 MW by 2030 & 50,000 MW capacity by 2040.