SJVN posts 79% jump in PAT for FY23 June qtr

SHIMLA: Nand Lal Sharma, Chairman and Managing Director, SJVN, informed that the Company has posted highest ever Revenues & Profit After Tax (PAT) for the first quarter during the Financial Year 2022-23. The Company posted PAT of Rs 607.79 crores while the Revenues stood at Rs 1,070.50 crores. The earlier highest recorded Revenues and PAT were in the FY 15-16 when they were Rs 920.35 crores & Rs 484.43 crores respectively.

Speaking after Company's Board Meeting held in Shimla on Friday, Sharma stated that this also translates into 79 per cent rise in PAT against Rs. 339.54 crores during the corresponding quarter of previous Financial Year. SJVN has also registered an increase of Rs 368.12 crores in its Total Revenues (an increase of 52.4 per cent), reaching Rs 1,070.50 crores in June 2022 Quarter from Rs 702.38 crores in the quarter ended in June 2021.

Sharma informed that SJVN's Net Worth has jumped to Rs 13,735.99 crores at the end of 1st quarter of 2022-23 as compared to Rs 13,100.97 crores in the corresponding period of previous year. During the quarter, SJVN had upped its Earning Per Share (EPS) registering an increase of 80.23 per cent as compared to the 1st quarter of previous year. Similarly, Company has accounted an increase of 52.69 per cent in the Profit Before Tax (PBT). Displaying an excellent financial performance during June ended First Quarter, the Company has earned total Revenues of Rs 1,006.25 crore from operations.

Nand Lal Sharma also shared that it is a proud moment for SJVN as Government of Rajasthan has agreed to sign a MoU for developing 10000 MW renewable energy in the State. In addition, SJVN has also secured 200 MW Solar Power project through e-Reverse auction by Maharashtra State Electricity Distribution Company Limited (MSEDCL).

Sharma also stated that with more than 50 projects in pipeline, SJVN is all set to achieve the CAPEX target of Rs. 8000 crores set by Ministry of Power for the FY2022-23.