SJVNL profit declines 4.19% in FY10

State-run hydro power producer Satluj Jal Vidyut Nigam Ltd (SJVNL) has recorded a 4.19 per cent decline in its profit after tax (PAT) at Rs 972.74 crore for the financial year 2009-10, compared to Rs 1,015.32 crore during the previous fiscal.

“Our outlook for the next five years is to exceed 5,000 MW capacity,” CMD SJVNL H K Sharma told reporters, adding that the PAT for 2008-09 was higher because the company had received arrears from the CERC on account of tariff revision.

SJVNL, which got listed on the capital market in May 2010, is in the process of adding capacity of 4,000 MW in its 10 projects. The company’s 412 MW Rampur Hydro Electric Project in Himachal Pradesh is scheduled for completion in 2013. With its Nathpa Jhakri project near Shimla in Himachal Pradesh, the power generation capacity of the company stands at 1,500 MW at present.

 

In order to enhance its green footprint, the company would also set up wind and solar power projects. “This year, we will finalise a 50 MW wind energy project,” Sharma said.

SJVNL also declared dividends of Rs 328.20 crore for 2009-10. The Centre’s shareholding stake in SJVNL currently stands at 64.47 per cent. While the Himachal Pradesh government holds 25.50 per cent stake in the company, the rest is owned by the public.