SJVN Q1 net profit surge 31% YoY to ₹357 crore, stock rise over 8%; check details

Shares of SJVN Ltd surged more than 8% to hit an intraday high of ₹148.84 apiece on the NSE on Wednesday, July 14, after strong growth in net profit for the quarter ended June 2024.

The company’s consolidated profit-after-tax grew over 31% year-on-year to ₹357.09 crore in the June quarter of FY25 from ₹271.75 crore in the same period a year ago. Meanwhile, net profit was up 484% compared to the March quarter.

SJVN released its financial results for the June quarter of FY25 after market hours on August 13.

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

On August 8, 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 a cost of ₹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 a period of 25 years shall be 4,629.3 million units, and the project will increase the company’s revenue by ₹64 crore.

SJVN is a public sector undertaking (PSU) involved in hydroelectric power generation and transmission.

Shares of SJVN Ltd have surged over 162% in the last one year and more than 57% year-to-date (YTD). In the last six months, the stock has gained nearly 18%.

SJVN shares are trading at ₹145.45 apiece, up 6.07%, on the NSE at 10:30 am.