SJVN net profit rises 22% to Rs 287.42 crore in December quarter

State-owned power producer SJVN on Monday posted a 22 per cent rise in consolidated net profit at Rs 287.42 crore in the December quarter, mainly due to higher revenues.

The consolidated net profit of the company was at Rs 235.46 crore in the quarter ended on December 31, 2021, according to a BSE filing.

Total income of the company rose to Rs 711.24 crore in the third quarter of the current fiscal from Rs 610.45 crore in the same period a year ago.

SJVN's board has approved an interim dividend of Rs 1.15 per equity share for 2022-23. The record date for the same is fixed on February 17.

In a statement, the company said it has recorded a Profit After Tax (PAT) of Rs 1,349.48 crore for April-December 2022 period, which is 37.98 per cent higher compared to the year-ago period.

SJVN CMD Nand Lal Sharma said that for the third quarter standalone PAT increased 25.06 per cent to Rs 290.98 crore compared to Rs 232.67 crore posted in the same period a year ago.

"These positive growth percentiles are a result of optimum utilisation of our operating units, relentless quest to excellence, adopting best financial practices and strategic focus on capacity addition in the portfolio of the company," he said.

SJVN's net worth has jumped to Rs 14,261.09 crore at the end of the December quarter.

In a major development, the Cabinet Committee on Economic Affairs has approved an investment of Rs 2,614 crore for the 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh, Sharma said.