Hydro Electric Power major SJVN Limited has recorded a 23.61% increase in the PAT (Profit After Tax) during the first quarter of FY 2014-15. The net profit of the company increased to Rs. 424.29 crore from Rs. 343.24 crore earned during the corresponding quarter of last financial year.
While the company’s total income increased 23.73% from Rs.597.29 crore to Rs. 739.08 crore, the PBT (Profit Before Tax) grew 23.34% from Rs. 418.64 crore to Rs. 516.37 crore. Resultantly, the company’s EPS during the quarter has increased from Rs. 0.83 to Rs. 1.03. The financial results of the company were declared at a meeting of the Board of Directors held at New Delhi today i.e. 28th July 2014.
The Central Electricity Regulatory Commission (CERC) has approved the tariff for NJHPS for the period 2009-14. Accordingly an amount of Rs. 135.83 crore on account of arrears has been included in sales.
During the quarter Prime Minister of India Narendra Modi laid foundation stone of the 600 MW Kholongchu HE Project in Bhutan being executed by SJVN Limited in joint venture with Druk Green Power Corporation Limited of Bhutan.
During the financial year 2013-14 SJVN generated 7183 million units of electricity against the MoU target of 6930 million units. The Company’s other two projects namely 412 MW Rampur HE Project in Himachal Pradesh and 47.6 MW Khirvire Wind Power Project in Maharashtra are already in operation. SJVN which has already diversified in the field of Wind Power, Thermal Power and Power Transmission is presently generating 2000 MW of electricity.
India A Rating & research (Ind-RA) has assigned SJVN a Long Term Issuer Rating of “IND AA+” with stable outlook. The agency has also assigned the company’s Rs. 4,000 million term loans an “IND AA+”.
Hydro Power is the core strength of SJVN and the Company has the distinction of implementing India’s largest 1500 MW Nathpa Jhakri Hydro Power Station in Himachal Pradesh and the Company is implementing 10 other projects in Nepal, Bhutan, Arunachal Pradesh, Himachal Pradesh, Uttrakhand, Bihar and Maharashtra.