SJVN clocks Rs 2168 crore profit

Shimla : In the last fiscal year SJVNNgenerated 9224 million units of electricity from 5 power stations. The design energy of these power stations is 8700 million units.

Speaking to reporters today about the Financial Performance Chairman and MD SJVNL Nand Lal Sharma said the PSU clocked its highest ever Profit Before Tax (PAT) of Rs 2168 crore in FY 2020-21. The company’s Net Profit increased to Rs 1633 crore in 2020-21 from Rs 1557 crore in 2019-20.

In the first quarter of FY 2021-22 SJVN’s Standalone Profit Before Tax was Rs 445 Crore registering an increase of 15 per cent over the corresponding quarter of the previous year. The Standalone Net Profit increased by 12 per cent to Rs 339.54 Crore from Rs 301.08 Crore over the June quarter of 2020-21. SJVN net worth at end of June 2021 has jumped to Rs 13100 Crore compared to Rs 12332 Crore at June 2020.

About the prospects of company the Chairman said SJVNs project portfolio continues to expand and has crossed 11,000 MWs. In FY 2020-21 and in the first quarter of 2021-22 the company has added new projects of 2525 MW generation capacity to its portfolio.

The PSU has been allotted 679 MW Lower Arun hydroelectric project in Bhojpur district of Nepal by the Government of Nepal; the 104 MW Tandi Project, 130 MW Rashil Project and the 267 MW Sach Khas hydroelectric project on Chenab Basis, by the Himachal Pradesh government. athis month SJVN bagged 1000 MW of Grid connected Solar PV Power Project floated by Indian Renewable Energy Development Agency Limited (IREDA).

SJVNNhas raised low cost funds for project financing.It has raised Rs 1000 crores at 6.1 per cent through bonds and is in the process of raising USD 500 million through External Commercial Borrowings (ECB) at1.78 per cent.

The company is executing Projects in Hydro, Thermal, Solar and Wind sector in India, Nepal & Bhutan. Company has chartered blueprint of its journey and to accomplish the short-medium-long-term objectives SJVN has laid out a Shared Vision of achieving 5000 MW installed capacity by 2023, 12000 MW by 2030 and 25000 MW by 2040.