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SJVN consolidated net profit jumps 37% to ₹1,359 crore in FY23

New Delhi: Hydro power generation company SJVN Ltd on Tuesday reported a 37.3% growth in its consolidated net profit for FY23 at 1,359.3 crore.

Consolidated revenues soared to a record 3,299 crore, a surge of 25.67% compared to the previous year’s revenue of Rs. 2,626 crore, it said in a regulatory filing..

The board of SJVN has recommended a dividend of 1.77 per share on the face value of 10 per share.

SJVN’s net worth has increased from 13,128 crore to 13,822 crore, according to Nand Lal Sharma, CMD of SJVN.

The company’s earnings per share (EPS) also witnessed an increase from Rs. 2.60 to Rs. 3.50 during this period, signifying a growth of 34.61%.

On Tuesday, SJVN shares closed at 35.76 on the BSE, down 0.5% from the previous close.

“SJVN has successfully accomplished its ambitious Capital Expenditure (CAPEX) target for the fiscal year 2022-23. Surpassing the assigned target of Rs. 8,000 crore set by the Ministry of Power, SJVN’s capital expenditure amounted to Rs. 8240 crore,” the company said.

The company is currently involved in the construction of 14 power projects and two transmission lines across India and neighbouring Nepal.

“These positive growth percentiles are an outcome of optimum utilization of our operating units, persistent quest for better power generation records, adopting best financial practices and strategic focus on capacity addition in the portfolio of the company,” Sharma said.

SJVN’s project portfolio now stands at 47,279 MW with 77 projects. The company is resolutely marching forward to achieve its shared vision of reaching 5000 MW by 2023-24, 25,000 MW by 2030, and 50000 MW of installed capacity by 2040.

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