SJVN's net income jumps by 24.53% to `920 crore

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SJVN's net income jumps by 24.53% to `920 crore

Friday, 31 July 2015 | PNS | SHIMLA

With increase in installed capacity, SJVN limited has recorded a 24.53 per cent increase in the net income during the first quarter of FY 2015-16. The net income of the company increased to `920.35 crore from `739.08 crore earned during the corresponding quarter of last financial year.

During the last financial year SJVN has commissioned 412 MW Rampur Hydro Power Station in Himachal Pradesh and 47.6 MW Khirwire Wind Power Project in Maharashra. Moreover there was increase of 22.19 per cent in electricity generation from its flagship 1500 MW Nathpa Jhakri Hydro Power Station.

While the company's Profit After Tax (PAT) increased 14.17% from `424.29 crore to  `484.43 crore, the PBT (Profit Before Tax) grew 15.12% from `516.37 crore to `594.47 crore.  Resultantly, the company's EPS during the quarter has increased from `1.03 to `1.17.  The financial results of the company were declared at a meeting of the Board of Directors held at New Delhi on Thursday.

RN Misra Chairman & Managing Director, SJVN informed that during the last quarter SJVN has entered into a Joint Venture for implementation of 600 MW Kholongchhu Hydro Electric Project in Bhutan. The company namely Kholongchhu Hydro Energy limited has been incorporated on 12th June 2015. Hon'ble Prime Minister of India Shri Narendra Modi laid the foundation stone of this project during his visit to Bhutan last year.

He said that SJVN has already diversified in the field of Wind Power, Thermal Power and Power Transmission is presently generating 2000 MW of electricity.

Hydro Power is the core strength of SJVN and the Company has the distinction of implementing India's largest 1500 MW Nathpa Jhakri Hydro Power Station in Himachal Pradesh and the Company is implementing 10 other projects in Nepal, Bhutan, Arunachal Pradesh, Himachal Pradesh, Uttrakhand, Bihar and Maharashtra.

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