SJVN posts profit of Rs1,633 cr in 2020-21

Tribune News Service

Shimla, September 30

The Sutlej Jal Vidyut Nigam (SJVN) recorded the highest-ever profit of Rs 2,168.67 crore, before tax, during 2020-21. The company’s net profit increased from Rs 1,557.43 crore in 2019-20 to Rs 1,633.04 crore in 2020-21, said Nand Lal Sharma, Chairman-cum-Managing Director of the Nigam.

Addressing the 33rd Annual General Meeting (AGM) of the SJVN here, he said earnings per share had increased from Rs 3.96 in 2019-20 to Rs 4.16 in 2020-21 and a dividend of Rs 2.20 per share had been declared for 2020-21, of which an interim dividend of Rs 1.80 per share had been paid in February 2021.

In spite of Covid-19, the performance of the SJVN on operational front was historic and 9,224 million units of electricity was generated from five power stations against the designated energy of 8,700 million units, he stated.

Sharma said the SJVN spent Rs 52.87 crore under Corporate Social Responsibility (CSR) initiatives in 2020-21, to help mitigate the impact of the pandemic.

During the first quarter of 2021-22, the SJVN’s standalone profit before tax was Rs 445.07 crore, an increase of 15.86 per cent over the corresponding quarter of the preceding year, while the standalone net profit increased by 12.77 per cent from Rs 301.08 crore to Rs 339.54 crore till June during the current year.