SJVN shares in news today post Q1 earnings

Shares of SJVN are in news today after the firm reported its June 2024 quarter earnings. State-owned hydropower company SJVN on Tuesday posted 31 per cent rise in consolidated net profit at Rs 357.09 crore during June quarter, on account of higher income. It had reported a net profit of Rs 271.75 crore during the April-June period of the preceding financial year, the company said.

SJVN shares ended 2.60% lower at Rs 136.95 in the previous session. The firm on Tuesday posted a 31 per cent rise in consolidated net profit at Rs 357.09 crore during June quarter, on account of higher income.

The company increased its total income to Rs 958.47 crore during the quarter from Rs 744.39 crore in the year-ago period.

Its expenses stood at Rs 476.39 crore as against Rs 362.60 crore in the first quarter last fiscal.

SJVN further said that "its board of directors has accorded in-principle approval for monetisation through securitisation of partial future revenue/return on equity of the Nathpa Jhakri Hydro Power Station (NJHPS) of the company."

The board has also given in-principal approval to the proposal for dilution of stake in the wholly-owned subsidiary, SJVN Green Energy Ltd, subject to various regulatory approvals.

The board has also accorded in-principle approval for monetisation through securitisation of partial future revenue/return on equity of the Nathpa Jhakri Hydro Power Station (“NJHPS”) of the company.

The board also in-principally approved the proposal for dilution of stake in the wholly owned subsidiary, SJVN Green Energy Limited, subject to the concurrence of Ministry of Power, Department of Investment and Public Asset Management (DIPAM, Ministry of Finance) etc.