SJVN Earns a net profit of Rs.1633 crore in FY 2020-21- Declares Rs. 2.20 dividend

SHIMLA: Continuing to better its performance year after year, Public Sector SJVN Limited has earned a net profit of Rs.1633.04 crore during the financial year 2020-21 against Rs 1557.43 crore earned during the previous financial year 2019-20, registering an increase of Rs.75.61 crore, told Sh. Nand Lal Sharma, Chairman and Managing Director of the Company, declaring financial results for the financial year as well as the fourth quarter, after company’s Board meeting held here today.

He told that during the financial year 2020-21, SJVN had netted a total income of Rs.3213.07 crore against Rs.3095.24 crore during the past year registering an increase of Rs.117.83 crore. The Earning Per Share of a face value of Rs.10 has increased to Rs.4.16 against Rs 3.96, he told.

 He informed that the Board of Directors had declared a dividend of Rs.2.20 per equity share. A dividend payout of Rs.1.80, he told, had already been given earlier as interim dividend while the balance payout of Rs.0.40 will be made shortly.  The public sector SJVN had generated 9224 million units of electricity from its five Power Stations comprising of two Hydro Power Stations in Himachal Pradesh, two Wind Power Stations and one Solar Power Station in Maharashtra and Gujarat against Design Energy of 8700 Million Units.  Sh. Nand Lal Sharma also informed that SJVN had entered into an agreement with Gujarat Urja Vikas Nigam for implementing a 70 MW Solar Power Plant in Gujarat.

Sh. Sharma told that SJVN’s financial performance during the fourth quarter of the previous financial year too had been excellent as the company had earned a total income of Rs 1081.13 crore during the fourth quarter of the financial year 2020-21 against Rs.704.70 crore during the corresponding quarter of the previous financial year registering an increase of around 53.4 percent. The net profit of the company too had registered an increase of 53.66 percent, from Rs.399.44 crore to Rs.613.80 crore. During the quarter, SJVN had upped its EPS from Rs.1.01 to Rs.1.56.

SJVN is implementing as many as 16 power projects in Hydro, Solar, Wind and Thermal sector within India as well as in the neighboring countries viz Nepal and Bhutan.  With an installed capacity of 2016.5 MW, SJVN targets to become a 5000 MW company by 2023, 12000 MW company by 2030 and 25000 MW company by 2040.