SJVN said that it has sold its entire stake in the Bhutanese joint venture company (JVC) i.e, Kholongchhu Hydro Energy (KHEL), as per the directions received from the Ministry of Power, Government of India.
The entire stake of the company was brought by the JV partner Druk Green Power Corporation, Bhutan.
SJVN has received a consideration of Rs 354.71 crore from the said stake sale in KHEL.
Separately, the company informed that its board will meet on Monday, 06 February 2023, to consider and approve the financial results of the company for the quarter ended 31st December 2022 and interim dividend for the FY 2022-23.
SJVN is an Indian public sector undertaking having business interests in hydro, thermal, solar, wind and in power transmission & power trading. It is a joint venture between the Government of India and the Government of Himachal Pradesh.
On consolidated basis, the company's net profit rose 10.1% to Rs 445.44 crore despite of 0.4% decrease in net sales to Rs 878.48 crore in Q2 FY23 over Q2 FY22.
The scrip rose 0.88% to end at Rs 34.50 on the BSE on Wednesday.
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