SJVN profits rise to Rs 2,168 cr
Shimla: With power projects under implementation in seven states, and two foreign countries –Nepal and Bhutan , Sutlej Jal Vidyut Nigam (SJVN) Limited has posted a profit of Rs 2,168.67 cr from five power stations during the 2020-21—a highest ever in its history despite Covid pandemic.
The Shimla- based Joint Venture of the centre and state government is also boosting its capacity in the Solar power sector,besides diversifying into the wind energy sector as well as thermal power.
Chairman –cum-Managing Director (CMD) Nand Lal Sharma told a press conference here on Friday that net profits of the company have increased to Rs 1,633.04 crore during the year 2020-21,which is quite an encouraging success story of the company. Last year the net profit was Rs 1,557.43 cr.
Not alone this the earnings per share (EPS) has increased gone up significantly from Rs 3.96 per share in 2019-20 to Rs 4.16 per share during the year as the SJVN has already declared a dividend of Rs 2.20 per share for 2020-21.
The company reserves, he informed, have shown a notable increase to Rs 8,032 crores.
Not lagging behind in its Corporate Social Responsibility, the SJVN Ltd has spent an all time high Rs 52.87 crore for various initiatives during the Covid to provide help to the power sections ,affected by the lockdown and loss of livelihood means. Talking about the long term plans Sharma said the company proposed to raise its capacity upto 5000 MW by 2023 and even 12,000 MW by 2030 and 25,000 MW by 2040.
"The company's current installed 2016.51 MW 0f which 1912 MW is in the Hydro-power sector, and 97.6 MW and 6.91 MW in the wind and Solar Power sectors respectively. We also operate one transmission Line of 86 km length while another one of 217 Km from Arun-3 HEP in Nepal to Bathnaha on the Nepal-India border is under construction," Sharma said.
The government of India has also recently allotted 679 MW Lower Arun Hydro Electric Project at Bhojpur in Nepal, the 104 MW Tandi Project, 130 MW Rashil Project and the 267 MW Sach Khas Hydro projects in the Chenab Basin of Himachal Pradesh.
