Shimla: SJVN’s profit after tax up by 42%

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Shimla, November 13

The profit after tax (PAT) of Satluj Jal Vidyut Nigam (SJVN) Limited has increased by 42 per cent to Rs 1,058.86 crore from Rs 745.61 crore in the first half of the current fiscal year.

“In the first half of the current fiscal year, the revenue from operations has surged by about 22 per cent to Rs 1,886.99 crore from Rs 1,547.44 crore during the corresponding period of previous fiscal year,” said SJVN chairman Nand Lal Sharma.

He said the SJVN had upped its earning per share (EPS) to Rs 2.70 in the first half of the fiscal as compared to Rs 1.90 of the previous fiscal. Besides, the company’s net worth has increased to Rs 13,970.52 crore from Rs 13,349.21 crore as on September 30 last year.

Apprising about recent developments, Sharma said during the second quarter of the current fiscal year, SJVN had added two more floating solar projects of 105 MW and 83 MW capacity in Maharashtra and Madhya Pradesh, respectively, to its kitty.

“The 1500 MW Nathpa Jhakri Hydro Power Station achieved the highest ever daily generation of 39.526 MU on August 30, and the 412 MW Rampur Hydro Power Station generated the highest ever monthly power generation of 290.409 MU in September this year,” he said.

Bags 83 MW solar project

Satluj Jal Vidyut Nigam (SJVN) Limited has secured an 83 MW floating solar project in Madhya Pradesh.

“This project has been secured at Rs 3.70/unit on build, own and operate basis in an e-reverse auction organised by REWA Ultra Mega Solar Limited (RUMSL),” said SJVN chairman Nand Lal Sharma.

Sharma said the SJVN would develop the project in India’s largest floating solar park at Omkareshwar in Khandwa district of Madhya Pradesh. “The cost of developing the project will be approximately Rs 585 crore. After commissioning, the project will generate 187 million units in the first year and 4,410 million units over a period of 25 years. The commissioning of the project is expected to reduce approximately 2,16,074 tonnes of carbon emission in 25 years,” he added.

The power purchase agreement will be signed between the RUMSL and the SJVN for 25 years. The project shall be commissioned within a period of 21 months from the date of the signing of the PPA.

“This is our second floating solar project bagged through the tariff-based competitive bidding process from the RUMSL. We are already developing a 90 MW floating solar project in Madhya Pradesh,” Sharma added.

The SJVN is implementing the project along with other renewable ones of 4,090.5 MW capacity through its wholly owned subsidiary SJVN Green Energy Limited.