Home / Companies / Company Results /  Board of Miniratna PSU SJVN declares dividend, net profit surges 22% in Q3

SJVN Limited, a Mini Ratna, Category-I and Schedule –‘A’ CPSE under the supervision of Ministry of Power, Govt. of India operates its power projects in Himachal Pradesh, Uttarakhand, Bihar, Maharashtra, Uttar Pradesh, Punjab, Gujarat, Arunachal Pradesh, Rajasthan, Assam, Odisha, Mizoram and Madhya Pradesh in India along with neighbouring countries of Nepal and Bhutan. The company has declared its Q3 earnings along with a dividend for the financial year 2022-23.

SJVN has said in a stock exchange filing that “we would like to inform that the Board of Directors in the aforesaid meeting have also approved interim dividend of Rs.1.15/- per equity share for the Financial Year 2022-23. The record date for the same is fixed on 17.02.2023. The payment of dividend shall start from 01.03.2023 onwards."

On a consolidated basis, the company reported revenue from operations of 551.99 crore Cr in Q3FY23 up by 0.52% YoY compared to 549.14 Cr in Q3FY22, whereas the net income of SJVN reached 711.24 crore in the quarter ended December 2022 against 610.45 Cr posted in the quarter ended December 2021. The company's net expenses stood at 381.85 Cr in Q3FY23 compared to 305.76 Cr in the year-ago quarter, whereas the company posted a consolidated net profit of 287.42 Cr in Q3FY23 compared to 235.46 Cr in Q3FY22, representing a YoY growth of 22%. The firm said that it achieved a Profit After Tax (PAT) of 1,349.48 crore for the period of April to December 2022, up 37.98% from the same period last year. The EPS of SJVN reached 0.64 in Q3FY23 compared to 0.61 in the same quarter of the previous financial year.

"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," SJVN CMD Nand Lal Sharma said according to PTI. In a major development, the Cabinet Committee on Economic Affairs has approved an investment of 2,614 crore for the 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh, Nand Lal Sharma further informed PTI.

The shares of SJVN Limited closed today on the NSE at 32.30 apiece level, down by 3.00% from the previous close of 33.30.

Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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