SJVN clocks highest-ever profit before tax at Rs 2,168.67 cr
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With record increase in revenue from its electricity generation plants, the profit before tax of Satluj Jal Vidyut Nigam (SJVN) in 2020-21 rose to Rs 2,168.67 crore, the company said on Wednesday.
Chairman and Managing Director of SJVN, Nand Lal Sharma, highlighted the achievements of SJVN in 2020-21 in his address to the shareholders at the 33rd annual general meeting on Wednesday.
Sharma said amid the Covid-19 pandemic, the company generated 9,224 million units of electricity from five power stations against the design energy of 8,700 million units.
To combat the Covid impact, SJVN spent Rs 52.87 crore on corporate social responsibility initiatives in 2020-21.
He said SJVN clocked its highest ever profit before tax (PAT) of Rs 2168.67 crore in 2020-21. The company's net profit increased to Rs 1,633.04 crore in 2020-21 from Rs 1,557.43 crore in 2019-20.
The earnings per share increased from Rs 3.96 in 2019-20 to Rs 4.16 in 2020-21.
SJVN has declared a dividend of Rs 2.20 per share for 2020-21 of which an interim dividend of Rs 1.80 was already paid in February.
In the first quarter of 2021-22, SJVN's standalone profit before tax was Rs 445.07 crore, registering an increase of 15.86 per cent over the corresponding quarter of the previous year.
The standalone net profit increased by 12.77 per cent to Rs 339.54 crore from Rs 301.08 crore over the June quarter of 2020-21. SJVN's net worth at end of June 2021 jumped to Rs 13,100.97 crore compared to Rs 12,332.85 crore in June 2020.
The company is executing projects in hydro, thermal, solar and wind sectors in India, Nepal and Bhutan.
