SJVNL records 53.81 percent hike in profit

Public sector firm Satluj Jal Vidyut Nigam Ltd (SJVNL) has recorded a 53.81 percent increase in profit after tax during the first nine months of this fiscal, the company said Thursday.

The net profit increased to Rs.1,491.67 crore from Rs.969.80 crore earned during the corresponding period of the last financial year, it said in a statement.

The board of directors declared an interim dividend of 63 paise per equity share.

While the company's total income increased 53.40 percent from Rs.1,730.08 crore to Rs.2,653.97 crore, the profit before tax grew 55.32 percent from Rs.1,180.64 crore to Rs.1,833.81 crore.

The company's earning per share during the period has increased from Rs.2.34 to Rs.3.61.

The financial results of the company were declared at a meeting of the board of directors here.

Besides the 1,500 MW Nathpa Jhakri plant -- India's largest hydro project in Kinnaur district of Himachal Pradesh, the company's two other operational projects are 412 MW Rampur Hydro Electric Project, also in the hill state, and 47.6 MW Khirvire Wind Power Project in Maharashtra.

SJVNL is a joint venture between the central and the Himachal Pradesh governments. While the former holds 74.5 percent stake, the latter has 25.5 percent.

However, the central government sold 10 percent equity in May 2010.