The company increased its total revenue to Rs 958.47 crore.
State-owned hydropower company SJVN on Tuesday posted a 31 per cent rise in consolidated net profit at Rs 357.09 crore during the June quarter on higher revenues.
The company reported a net profit of Rs 271.75 crore during the April-June period of the previous financial year, the company said in a filing with the stock exchange.
The company increased its total revenue to Rs 958.47 crore during the quarter from Rs 744.39 crore in the same period last year.
Its expenses stood at Rs 476.39 crore, up from Rs 362.60 crore in the first quarter of last fiscal year.
SJVN further said that “its board of directors has granted in-principle approval for monetisation through securitisation of partial future revenues/return on equity of the company’s Nathpa Jhakri Hydroelectric Power Station (NJHPS).
The board also gave its approval in principle to the proposed dilution of stake in the wholly-owned subsidiary, SJVN Green Energy Ltd, subject to various regulatory approvals.
It also approved the appointment of the Company’s Director (Projects), Sushil Sharma, who holds the additional charge of Chairman & Managing Director, as Key Management Personnel of SJVN pursuant to an order of the Ministry of Power.
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First published: August 13, 2024 | 21:25 IS
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