SJVN Q4 net jumps over 8% to Rs 120 cr

Dividend of 0.94 paisa per Rs 10 share recommended

Hydro power producer SJVN today posted over eight per cent increase in net profit at Rs 119.74 crore in the three months ended March.

The company had a net profit of Rs 110.28 crore in the year-ago period, the company said in a filing to the BSE.

Total income rose to Rs 426.44 crore in the fourth quarter of 2011-12 period from Rs 425.46 crore in the same period a year ago.

In the 2012 March quarter, the company recorded a deferred tax of Rs 18.23 crore and Rs 12.73 crore expense related to the Himachal Pradesh government withdrawing Khab project from SJVN.

"Since the time and quantum of recovery of the amount is uncertain, as a matter of prudence, full provision has been made in accounts for the year," the filing said.

The company's board has recommended a dividend of Rs 0.94 per share, each having a face value of Rs 10 for 2011-12 financial year.

SJVN reported a 17% jump in net profit at Rs 1,068.68 crore in the full year ended March. In the comparable period last fiscal 2010-11, the same stood at Rs 912.13 crore.

In 2011-12 fiscal, the total income went up to Rs 2,136.79 crore from Rs 1,979.16 crore in the previous financial year.

Shares of the company were trading flat at Rs 18.60 in afternoon session on the BSE.