Active Stocks
Fri Mar 01 2024 15:59:51
  1. Tata Steel share price
  2. 150.00 6.46%
  1. State Bank Of India share price
  2. 769.30 2.67%
  1. Tata Motors share price
  2. 977.20 2.78%
  1. ITC share price
  2. 409.50 0.74%
  1. ICICI Bank share price
  2. 1,086.90 3.18%
Business News/ Markets / Stock Markets/  SJVN share price down 19% after 51% drop in Q3 net profit
BackBack

SJVN share price down 19% after 51% drop in Q3 net profit

According to a regulatory filing, SJVN reported a net profit of ₹287 crore for the corresponding quarter last year.

SJVN share price down by 19% on Monday (Image: Pixabay)Premium
SJVN share price down by 19% on Monday (Image: Pixabay)

The shares of Satluj Jal Vidyut Nigam (SJVN) witnessed a sharp decline of more than 19% in its share price on Monday, February 12, in response to the company's performance in the December quarter.

On Friday, February 9, the company disclosed a significant year-on-year decrease of 51.6% in its net profit, amounting to 139 crore for the third quarter ending December 31, 2023.

Also read: Multibagger: This small-cap pharma stock soared over 750% in 5 years, 366% in 1 year; should you buy?

According to a regulatory filing, SJVN reported a net profit of 287 crore for the corresponding quarter last year. Meanwhile, the company's revenue from operations saw a marginal decrease of 1.6%, amounting to 543.3 crore compared to 552 crore in the same period of the previous fiscal year.

At the operational level, SJVN witnessed a 3.2% decline in EBITDA, which stood at 368.5 crore for the third quarter of this fiscal year, compared to 380.6 crore year-over-year. The EBITDA margin for the reporting quarter was noted at 67.8%, down from 69% in the corresponding period of the preceding fiscal year. EBITDA represents earnings before interest, tax, depreciation, and amortization.

In addition, SJVN announced that its board of directors has approved an interim dividend of 1.15 per equity share for the financial year 2023-24, as per the regulatory filing submitted to exchanges.

Also read: Sakthi Sugars share price slumps 10%, here's why

"We would like to inform that the Board of Directors in the aforesaid meeting have also approved an interim dividend of 1.15/- per equity share for the Financial Year 2023-24. The record date for the same is fixed on 21.02.2024. The payment of dividend shall start from 04.03.2024 onwards," the company said.

Over the previous month, the stock has surged by 22.73%, marking a substantial increase. Furthermore, over the last six months, it has experienced an impressive growth of 100.87%, demonstrating a remarkable upward trend. Looking back over the past year, the stock has soared by an impressive 261.74%, showcasing remarkable long-term performance.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 12 Feb 2024, 04:53 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App