SJVN shares zoom 9% on stellar Q1FY25 earnings; power sales grow 238% YoY

SJVN’s stock surged up to 8.68 per cent at Rs 148.85 a piece on the BSE in Wednesday’s intraday trade. The stock price jumped after the company on Tuesday reported its April-June quarter of financial year 2024-25 (Q1FY25).

State-owned hydropower company SJVN reported a 31 per cent increase in consolidated net profit, reaching Rs 357.09 crore for the June quarter, due to higher income. This compares to a net profit of Rs 271.75 crore for the same period in the previous financial year. 

The company's total income rose to Rs 958.47 crore for the quarter, up from Rs 744.39 crore a year earlier. Expenses for the quarter were Rs 476.39 crore, compared to Rs 362.60 crore in the first quarter of the last fiscal year.

The company stated that its sales include revenue of Rs 55.83 crore from Renewable Energy (Wind and Solar Power),  an 80.7 per cent increase from Rs 30.91 crore in the same period last year. R

Revenue from operations for the quarter include Rs 19.39 crore from power sales through trading, up 238.7 per cent from Rs 5.72 crore in the previous corresponding quarter. 

Other income for the quarter amounted to Rs 88.10 crore, a 26.6 per cent increase from Rs 69.60 crore in the same period last year, primarily due to interest earned on bank deposits, the company said in an exchange filing. 

The company has also received board approval for the monetization of partial future revenue and return on equity from the Nathpa Jhakri Hydro Power Station (NJHPS) through securitization. Additionally, the board has approved, in principle, the dilution of its stake in the subsidiary SJVN Green Energy.

SJVN has a total market capitalisation of Rs 56,844 crore. The company is presently trading at a price to earnings multiple of 59.25  times, while trading at an earning per share (EPS) of Rs 2.31.

The share price of the company has zoomed 57 per cent year to date, while it has gained 153 per cent in the last one year

At 10:35 AM; the stock price of the company was trading 6.43 per cent higher at Rs 145.75 per share on the BSE. By comparison the BSE Sensex surged by 0.13 per cent at 79,062 levels.