SJVN quarterly net profit jumps to Rs 424 cr

The power producer had a net profit of Rs 343.24 crore in the April-June period of last fiscal, 2013-14

State-owned power producer SJVN today posted a nearly 24 per cent increase in net profit at Rs 424.29 crore for the three months ended June this year, helped by higher electricity sales.

The utility had a net profit of Rs 343.24 crore in the April-June period of last fiscal, 2013-14.

The company's total revenue from operations climbed to Rs 674.71 crore in the first quarter of the current financial year, from Rs 540 crore recorded in the year-ago period, according to a regulatory filing.

During Q1, 2014-15 four units of 421 MW Rampur hydel power project began generating electricity. The plant has a total of six units.

"Pending determination of tariff by the CERC in respect to Rampur Hydro Power Station, the sales for the period have been provisionally recognised at Rs 3,417 lakh (Rs 34.17 crore) for the quarter...," the filing said.

SJVN Ltd is a joint venture between Indian government and Himachal Pradesh government.

Shares of SJVN jumped over 3 per cent to close at Rs 24.70 on the BSE.