SHIMLA – February 10, 2022
Nand Lal Sharma, Chairman and Managing Director, SJVN, today informed that SJVN has recorded Profit After Tax (PAT) of Rs 232.67 crores during third quarter of current financial year which is 19% more than the corresponding quarter of previous fiscal year.
Speaking after the Board Meeting of Company in Shimla today, Sh Sharma stated that during the third quarter, SJVN has earned Rs 550.92 crores Revenue from Operations. This is 11.29% more than the previous year. SJVN has also recorded other incomes amounting to Rs 56.95 crores which saw substantial increase of 55.94% as compared to same period of last FY..
Sharma said that in Q3 of FY21-22, SJVN has recorded highest ever Power Generation of 1480 Million Units for the period surpassing 1280 MU generation in corresponding period of previous financial year.
Nand Lal Sharma lauded collective efforts and hard work of the employees. “These positive growth percentiles are result of optimum utilization of our operating units, relentless quest to better power generation records, adopting best financial practices and strategic focus on capacity addition in the portfolio of the company.”
He also shared that SJVN has been granted Category “1” License for Inter-State Trading in Electricity for whole of India by CERC. Now, SJVN aims to be a one-stop source for any generator and consumer wanting to trade power in the country.
Further, Sh Sharma said that SJVN has been accorded approval by Ministry of Finance, Govt. of India for creating Subsidiary Company for development of Renewable Energy Projects. This will facilitate in developing Renewable Energy including Battery Energy Storage System, Wave, Biomass, Small Hydro and Green Hydrogen Projects. In another major development, PIB has recommended the Investment Proposal of 382 MW Sunni Dam Hydro Electric Project, Himachal Pradesh at the estimated cost of Rs 2614.51 crores. Recently, SJVN has submitted to Government of Rajasthan a Letter of Intention for developing 10,000 MW Solar Power projects in the State during MoU/LoI Signing Ceremony of Govt. of Rajasthan on 8th February 2022 at Jaipur.
In line with the commitment of Government of India to achieve 500 GW of installed capacity from non-fossil fuel sources by 2030, SJVN has re-engineered its Business Model and has given a major thrust to its Renewable Energy portfolio. Addition of various Hydro & Renewable Energy Projects in the kitty of SJVN has resulted in upscaling of Shared Vision to achieve installed capacity of 25,000 MW by 2030 & 50,000 MW by 2040.
