SJVN net profit dips marginally to ₹439.64 crore in September quarter

State-owned SJVN Ltd on Thursday reported a marginal decline in its consolidated net profit to ₹439.64 crore.

Its consolidated net profit was ₹445.44 crore in the quarter ended on September 30, 2022, according to a regulatory filing.

Total expenses in the quarter rose to ₹398.22 crore from ₹387.75 crore in the year-ago period.

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Total income also increased to ₹951.62 crore in the September quarter over ₹916.25 crore a year ago.

The company Tuesday said it has received a letter of intent from Uttarakhand Power Corporation Ltd (UPCL) for purchase of 200 MW green energy.

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UPCL intends to purchase 200 MW power at a tariff of ₹2.57 per unit from its 1,000 MW Bikaner Solar Project in Rajasthan, SJVN said in a statement.

"The company has received a Letter of Intent for purchase of 200 MW solar power from Uttarakhand Power Corporation Ltd. The solar project is being developed through SJVN Green Energy Ltd (SGEL), a wholly owned subsidiary of the company in Rajasthan under the CPSU Scheme, with viability gap funding support from the Government of India," it said.

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The power generated from the project will be used by government entities, either directly or through discoms.