SJVN net profit rises over two-fold to Rs 17 cr in Q4; net worth grows to Rs 13,822 cr in FY23

New Delhi: State-owned SJVN's consolidated net profit jumped over two-fold to Rs 17.21 crore during the quarter ended March 31, boosted by higher income.

It had clocked a net profit of Rs 7.49 crore in the January-March quarter of the preceding financial year (FY22), the company said in a regulatory filing on Monday.

The company's total income rose to Rs 582.78 crore, from Rs 393.87 crore in the year-ago quarter, the hydropower producer said.

The expenses of the company stood at Rs 328.98 crore, as against Rs 366.13 crore a year ago.

The board of directors of the company has also approved a final dividend of Rs 0.62 per share of Rs 10 each for FY23.

In a separate statement, SJVN CMD Nand Lal Sharma said the company has "recorded highest ever" revenues of Rs 3,299 crore during financial year 2022-23.

For the entire fiscal, the profit after tax (PAT) of Rs 1,363.45 crore was 39.48 per cent higher over Rs 977.52 crore in FY22.

The net worth of SJVN has also increased by Rs 694 crore to Rs 13,822 crore, he said.

Sharma further said SJVN has successfully achieved its ambitious Capital Expenditure (CAPEX) target for fiscal year 2022-23. With Rs 8,240 crore, the company has surpassed the target of Rs 8,000 crore assigned by the Ministry of Power.

Sharma apprised that the CAPEX target of Rs 8,000 crores was the third highest amongst power CPSEs for FY 2022-23.

SJVN is now set to achieve the gigantic CAPEX target of Rs 10,000 crore for FY 2023-24. Currently SJVN is constructing 14 Power Projects and 2 Transmission lines across India and in the neighboring country of Nepal.

SJVN produced 9,283 million units (MU) from all its power stations in FY 2022-23 surpassing previous year's generation of 9207 MU.