SJVN's June quarter net profit rises by 12.77% to Rs 339.54 crore

SHIMLA: Nand Lal Sharma, Chairman and Managing Director, SJVN, declared that the Company has posted Standalone Profit Before Tax of Rs 445.07 crore for the first quarter of the Financial Year 2021-22.

Speaking after company's Board Meeting held in Shimla today, he stated that this reflects nearly 16 per cent rise in Standalone PBT against Rs 384.14 crore during the corresponding quarter of previous FY. SJVN has also registered an increase of 12.77 per cent jump in its Standalone Net Profit, reaching Rs 339.54 crore in June 2021 Quarter from Rs 301.08 crore in the quarter ended in June 2020.

Sharma informed that SJVN's net worth has jumped to Rs 13,100.97 crore at the end of first quarter of 2021-22 as compared to Rs 12,332.85 crore in the corresponding period of previous year, which is an excellent feat considering the recent global economic turmoil due to pandemic situation.

During the quarter, SJVN had upped its Earning Per Share registering an increase of 11.69 per cent as compared to the first quarter of previous year. Similarly, Company has accounted an increase of 6.25 per cent in the Book Value as compared to the 1 st quarter of the previous year. Displaying an excellent financial performance during June ended First Quarter, the company has registered a total income of Rs. 702.38 crore.

Nand Lal Sharma also shared that it is a proud moment, that SJVN has bagged 200 MW Grid connected Solar PV Power Project in Bihar through Open Competitive Tariff Bidding Process for quoted capacity of 200 MW at Rs 3.11 /Unit on Build Own and Operate (BOO) basis during e-Reverse Auction.

The Public Sector SJVN has also set all-time record of Power Generation from all its generating units including renewable projects in the month of July 2021 with 1580 MU, surpassing the previous record of 1563 MU in July 2020.

Moreover, SJVN Ltd on Saturday announced that it has bagged 200 MW grid connected solar PV power project worth Rs 1,000 crore in Bihar.

SJVN Chairman and Managing Director Nand Lal Sharma said in a statement that SJVN Ltd bagged the project through Open Competitive Tariff Bidding Process for quoted capacity of 200 MW Rs 3.11/unit on Build Own and Operate (BOO) basis during e-reverse auction held on August 13, 2021.

SJVN participated in tariff-based competitive bidding process for solar project of capacity 200 MW floated by Bihar Renewable Energy Development Agency (BREDA) wherein three other bidders also participated.

He further informed that the tentative cost of construction and development of this project is Rs 1,000 crore. The project is expected to generate 420.48 MU (million units) in the 1st year and the project cumulative energy generation over a period of 25 years would be about 10,512 MU.

The PPA shall be signed between BREDA and SJVN for 25 years. Earlier, SJVN bagged two solar projects totalling 145 MW in the state of Gujarat and Uttar Pradesh. Both these solar projects have also been bagged through open competitive bidding.