Board of Miniratna PSU SJVN declares dividend, net profit surges 22% in Q3
1 min read . Updated: 07 Feb 2023, 09:24 PM IST
Premium- 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.
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.
