State-owned hydropower producer SJVN has reported a jump in profits. Its consolidated profit after tax rose by 39.48% to Rs 1,363.45 crore in financial year 2022-23 compared to the previous fiscal year, when it was Rs 977.52 crore. The company also achieved its highest ever revenues of Rs 3,299 crore during FY23. The previous highest was recorded in FY15, when revenues reached Rs 3,256 crore. SJVN’s earnings per share increased by 34.61% from Rs 2.60 to Rs 3.50 during the period, and the net worth of the company increased by around Rs 694 crore.
SJVN’s Board has recommended a dividend of Rs.1.77 per share (on face value of Rs 10/- per share). The company also surpassed its Capital Expenditure (capex) target for FY23 with Rs 8,240 crore, exceeding the target of Rs. 8,000 crore assigned by the Ministry of Power, Government of India. Nand Lal Sharma, CMD of SJVN, credited the achievement to the visionary leadership of Prime Minister Narendra Modi and guidance of Union Power Minister RK Singh, and said that this would contribute to the economic and infrastructural growth of the nation.
