SJVNL's profit up 60 percent

With a 60.90 percent increase in revenue from its electricity generation plants, the profit after tax of Satluj Jal Vidyut Nigam Ltd (SJVNL) during the first half of this fiscal rose to Rs.1,221.07 crore from the Rs.758.87 crore earned during the same period in the last fiscal, the company said Friday.

While the company's total income increased 55.52 percent from Rs.1,293.12 crore to Rs.2,011.03 crore, the profit before tax grew 62.81 percent from Rs.929.19 crore to Rs.1,512.81 crore.

The company's earning per share during this period has increased from Rs.1.83 to Rs.2.95.

The financial results of the company were declared at a meeting of the board of directors in New Delhi.

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. The former holds 74.5 per cent stake, while the remaining 25.5 per cent is held by the state government.

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