SJVN registers 37.98% growth in PAT
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which is Rs. 1349.48 crores for First Three Quarters of current FY
SHIMLA : 06.02.2023
Nand Lal Sharma, Chairman and Managing Director, SJVN, today informed that SJVN has recorded Profit After Tax (PAT) of Rs 1349.48 crores for three quarters of the current financial year which is 37.98 % more than the corresponding period of the previous fiscal.
Speaking after the Board Meeting of Company today, Sharma stated that for the third quarter Profit After Tax increased by 25.06%, which is Rs. 290.98 Crores compared to Rs. 232.67 Crores during the corresponding period last year.
Nand Lal Sharma lauded the collective efforts and hard work of the employees. “These positive growth percentiles are the result of optimum utilization of our operating units, relentless quest to excellence, adopting best financial practices and strategic focus on capacity addition in the portfolio of the company.”
Sh. Sharma informed that SJVN’s Net Worth has jumped to Rs. 14,261.09 crores at the end of 3rd quarter of 2022-23 as compared to Rs. 13581.36 crores during last year. SJVN has also upped its Earning Per Share (EPS) registering an increase of 38.15% as compared to the corresponding period of the previous year. Similarly, the Company has accounted for an increase of 11.37% in the Profit Before Tax (PBT). Displaying an excellent financial performance during the first three-quarters of the current fiscal, the Company has earned total Revenues of Rs. 2715.48 crores from operations during these three quarters.
Further, Sharma informed that on 3rd of January this year Hon’ble President of India, Smt. Droupadi Murmu, laid the foundation stone of SJVN’s 1000 MW Bikaner Solar Power Project. He further told that in a major development Cabinet Committee on Economic Affairs, chaired by Hon’ble Prime Minister Sh. Narendra Modi has approved an investment of Rs. 2614 crore for 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh.
In line with the commitment of the Government of India to achieve 500 GW of installed capacity from non-fossil fuel sources by 2030, SJVN has re-engineered its Business Model and has given a major thrust to its Renewable Energy portfolio. The addition of various Hydro & Renewable Energy Projects in the kitty of SJVN has resulted in upscaling of Shared Vision to achieve an installed capacity of 25,000 MW by 2030 & 50,000 MW by 2040.
