SJVN registers 37.98% growth in PAT to Rs 1,349.48 crore for three quarters of FY23

SHIMLA: Nand Lal Sharma, Chairman and Managing Director, SJVN, on Monday informed that SJVN has recorded Profit After Tax (PAT) of Rs 1,349.48 crore for three quarters of current financial year which is 37.98 per cent more than the corresponding period of previous fiscal.

Speaking after the Board Meeting of Company on Monday, Sharma stated that for the third quarter Profit After Tax increased by 25.06 per cent, which is Rs 290.98 crore compared to Rs 232.67 crore during corresponding period last year.

Nand Lal Sharma lauded collective efforts and hard work of the employees. “These positive growth percentiles are result of optimum utilization of our operating units, relentless quest to excellence, adopting best financial practices and strategic focus on capacity addition in the portfolio of the company.”

Sharma informed that SJVN’s Net Worth has jumped to Rs. 14,261.09 crores at the end of Q3 of FY23 as compared to Rs 13581.36 crore during last year.

SJVN has also upped its Earning Per Share (EPS) registering an increase of 38.15 per cent as compared to corresponding period of previous year. Similarly, Company has accounted an increase of 11.37 per cent in the Profit Before Tax (PBT).

Displaying an excellent financial performance during first three quarters of current fiscal, the Company has earned total Revenues of Rs 2715.48 crore from operations during these three quarters.

Further, Sharma informed that on third of January this year President of India,

Droupadi Murmu, laid the foundation stone of SJVN’s 1000 MW Bikaner Solar Power Project. He further told that in a major development Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi has approved investment of Rs 2614 crore for 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh.

In line with the commitment of Government of India to achieve 500 GW of installed capacity from non-fossil fuel sources by 2030, SJVN has re-engineered its Business Model and has given a major thrust to its Renewable Energy portfolio. Addition of various Hydro & Renewable Energy Projects in the kitty of SJVN has resulted in upscaling of Shared Vision to achieve installed capacity of 25,000 MW by 2030 & 50,000 MW by 2040.