New Delhi: State-owned SJVN Ltd on Monday posted nearly 45 per cent jump in consolidated net profit to Rs 623.50 crore for the September quarter mainly on account of higher revenues.
The company's net profit was Rs 430.21 crore in the quarter ended on September 30, 2018, SJVN said in a BSE filing.
Total income in the second quarter rose to Rs 1,033.34 crore from Rs 830.90 crore in the year-ago period.
Chairman & Managing Director Nand Lal Sharma 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 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 crore.
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.
SJNV is a joint venture between the Government of India and Himachal Pradesh government. The company is primarily engaged in generation and sale of power.
Shares of the company settled 0.41 per cent up at Rs 24.60 apiece on the BSE.