SJVN logs 39% growth in PAT during first 9 months of FY20

SHIMLA: SJVN Limited has recorded 39 per cent growth in Profit After Tax (PAT) during the three quarters of FY 2019-20 ending December 31, 2019. The PAT of the company increased to Rs. 1,262 crore from Rs. 907.78 crore during the corresponding period of last financial year.

The projects of SJVN during first nine months of FY20 generated 8842 million units of electricity against 7656 million units generated during the corresponding period of last financial year.

While the company's revenue increased 16.67 per cent from Rs.1,850.20 crore to Rs. 2,158.69 crore, the Profit Before Tax (PBT) grew 32.21 per cent from Rs. 1,192.50 crore to Rs. 1,576.66 crore. Resultantly, the company's EPS during the period increased 57.14 per cent from Rs. 1.96 to Rs. 3.08. The financial results of the company were declared at a meeting of the Board of Directors held at New Delhi.

Nand Lal Sharma Chairman & Managing Director stated that 1500 MW Nathpa Jhakri Hydro Power Station, which is the country's largest underground power house and 412 MW Rampur Hydro Power Station are creating new benchmarks, in hydro sector each year. He further added, based on excellent performance of Power Stations, SJVN has declared an interim dividend of Rs.1.70 per share having face value of Rs. 10 and this will amount a total of Rs. 668 Crores.

Sharma informed that Financial Closure of SJVN's 900 MW Arun 3 Hydro Electric Project in Nepal has been achieved on February 6, 2020. For development of this Hydro Project the company will be investing approximately Rs. 6,959 crore in Nepal over the next five years. He further said that the tendering process of major Civil and Electro-Mechanical components of 210 MW Luhri Hydro Electric Project has been initiated and construction activities are likely to commence soon. The DPR of 382 MW Sunni Dam Hydro Electric Project is under examination by Central Electricity Authority and its earlier clearance is expected.

He further informed that SJVN has recently entered into MoUs with Government of Himachal Pradesh for implementation of Eight (8) Hydro Projects. The total capacity of these projects is 2388 MW and the development of these projects involves investment of Rs. 24,000 crores.

SJVN has also forayed into the fields of Renewable Energy, Power Transmission and Thermal. SJVN has envisaged Internal Growth Targets and is vigorously marching forward for achieving installed capacity of 5000 MW by 2023, 12000 MW by 2030 and 25000 MW by year 2040.