SJVN Q1 results, net profit surge 31% YoY to Rs 357 crore

State-owned SJVN Ltd shares have surged more than 8% to hit an intraday high of Rs 148.84 apiece on the NSE after the company announced the quarterly results of June-end 2024.

The company’s consolidated PAT grew over 31% year-on-year to Rs 357.09 crore in the June quarter of FY25 from Rs 271.75 crore in the corresponding previous year. Meanwhile, net profit was up 484% compared to the March quarter.

The power generation company’s consolidated revenue from operations for the June quarter of FY25 increased over 29% YoY to Rs 870.37 crore from Rs 674.79 crore in the corresponding quarter of the preceding fiscal. On a sequential basis, the company’s revenue from operations increased by 80% YoY.

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Earlier, the company informed the exchanges that its subsidiary, SJVN Green Energy Limited (SGEL), commissioned a 90 MW Floating Solar Project in Omkareshwar, Madhya Pradesh. After the commissioning of the project, the company's total installed power generation capacity stands at 2,466.5 MW.

The company also told the exchanges that the project is one of the largest floating solar projects in Central and North India. It was developed at Rs 646.2 crore and is expected to generate 196.5 million units of energy in the first year.

SJVN estimates that the floating solar project’s cumulative energy generation over 25 years shall be 4,629.3 million units, and the project will increase the company’s revenue by Rs 64 crore.

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SJVN shares are trading at Rs 145.45 apiece, up by 6.07%, on the NSE.

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