SJVN surges 5% after Q4 net profit jumps threefold

Shares of SJVN surged nearly 5 percent intraday on May 30 after its standalone net profit rose nearly three-and-a-half times for the quarter ended March 2019.

The company in its exchange release said net profit rose 245 percent in the Jan-March quarter at Rs 458.92 crore, against Rs 132.92 in the year-ago period.

Revenue soared 133 percent at Rs 805.2 crore, compared to Rs 344.8 crore in the corresponding quarter of the previous year.

For the entire 2018-19, the firm's standalone net profit increased to Rs 1,364.29 crore as compared with Rs 1,224.88 crore in the previous fiscal. The total standalone income also rose to Rs 2,908.99 crore in the fiscal from Rs 2,587.07 crore in 2017-18.

The board of the company recommended a final dividend of Rs 0.65 per equity share of Rs 10 each. The final dividend is in addition to the interim dividend of Rs 1.5 per equity share for FY19 paid in the month of February 2019.

At 1103 hrs, SJVN was quoting Rs 26.45, up 4.55 percent on the BSE.