SJVN Ltd on Saturday reported over a fourfold sequential rise in consolidated net profit for the March quarter at ₹820 crore. Total income grew twofold quarter-on-quarter to ₹1,085 crore.
On a year-on-year basis, the March quarter profit has grown twofold from ₹399 crore. SJVN board also recommended a final dividend for 2020-21 of ₹0.4 per share. In addition to the interim dividend paid out in February, the total dividend for the fiscal year comes to ₹2.2 per share.
For the fiscal year 2020-21, profit was down by 2.5 per cent to ₹1,646 crore. However, annual revenue grew by 4 per cent to ₹3,223 crore.
In line with the directions of the central government, the company has given a one-time rebate of ₹58 crore to the discoms and power departments of States and Union Territories, SJVN said in a statement. Accordingly rebate amounting to ₹52 crore has been recognised as an exceptional item, nearly a ninefold rise.
Hydropower generation during the fiscal year declined by 5 per cent to 9,094.26 million units. Revenue from the company’s Wind and Solar vertical declined by 4 per cent to ₹51 crore for the fiscal year.