SJVN earns net profit of Rs.1633 crore in FY21- Declares Rs.2.20 dividend - ICN INDIA

SJVN earns net profit of Rs.1633 crore in FY21- Declares Rs.2.20 dividend

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By: Vijay Kumar Verma, Group Editor-ICN World

SHIMLA : Continuing to better its performance year after year, Public sector SJVN Limited has earned a net profit of Rs.1633.41 crore during the financial year 2020-21 against Rs 1557.43 crore earned during the previous financial year 2019-20, registering an increase of Rs.75.61 crore, told Nand Lal Sharma, Chairman and Managing Director of the Company, declaring financial results for the financial year as well as the fourth quarter, after company’s Board meeting held here today.

He said that during the previous financial year SJVN had netted a total income of Rs.3213.07 crore against Rs.3095.24 crore during the past year registering an increase of Rs.117.55 crore.
The Earning per share of a face value of Rs.10 has increased to Rs.4.16 against Rs 3.96, he told.
He informed that the Board of Directors had declared a dividend of Rs.2.20 per equity share. A dividend payout of Rs.1.80, he told, had already been made earlier as interim dividend while the balance payout of Rs.0.40 will be made shortly.
The public sector SJVN has generated 9094 million units of electricity from its two hydro power plants in Himachal Pradesh viz the 1500 MW Nathpa Jhakri hydro power station and 412 MW Rampur hydro power station, he said.  From its Wind power plants, he said that the company had generated 122 million units of electricity while the solar power plants had added 7.22 million units of electricity during the year. Nand Lal Sharma also informed that SJVN had entered into an agreement with Gujarat Urja Vikas Nigam for implementing a 70 MW Solar power plant in Gujarat.

Sharma told that SJVN’s financial performance during the fourth quarter of the previous financial year too had been excellent as the company had earned a total income of Rs 1081.13 crore during the fourth quarter of the financial year 2020-21 against Rs.704.70 crore during the corresponding quarter of the previous financial year registering an increase of 54 percent. The net profit of the company too had registered an increase of 54 percent, from Rs.399.44 crore to Rs.613.80 crore. During the quarter SJVN had upped its EPS from Rs.1.01 to Rs.1.56.
Sharma further informed that there has been no significant impact of the epidemic on generation of electricity and on construction activities undertaken by the company.  He said that in line with directions of the government of India SJVN had given a one time rebate of Rs.5782 lakh to the DISCOMS and power departments of states and union territories.

SJVN is implementing as many as 16  power projects in the hydro, solar, wind and Thermal sectors within India as well as in the neighboring countries viz Nepal and Bhutan.  SJVN has two subsidiaries namely SJVN Thermal Private Limited through which it is implementing the 1320 MW Buxar Thermal power project in Bihar, and SJVN Arun-3 Power Development company for the implementation of 900 MW Arun – 3 Hydro power project in Nepal. SJVN also has two Joint venture companies namely Kholongchu Hydro Energy Limited for the implementation of 600 MW Kholongchu Hydro power project in Bhutan, and Cross Border Power Transmission Company Limited for implementation of power transmission lines between India and Nepal for evacuation of electricity to be generated from its upcoming power project in Nepal.

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