SJVNL’s Q3 profit up 20 percent

January 21st, 2012 - 6:40 pm ICT by IANS  

Shimla, Jan 21 (IANS) The Satluj Jal Vidyut Nigam Ltd (SJVNL), the company that owns and operates India’s largest hydropower project in Himachal Pradesh, Saturday announced a 20 percent increase in its profit before tax for the third quarter of fiscal 2011-12 ending December.

The SJVNL had posted a profit of Rs.1,143.99 crore against Rs.954.80 crore during the corresponding quarter last fiscal, its deputy general manager Vijay Verma told IANS here.

The quarterly results were finalised at the board meeting held in New Delhi Saturday.

Verma said for the three quarter, SJVNL’s earning per share (EPS) has also increased to Rs.2.29 against Rs.1.94 during the same period of last year.

SJVNL is a joint venture between the central and the Himachal Pradesh governments. The former holds 74.5 per cent stake, while the remaining 25.5 per cent is held by the state government.

However, the central government sold its 10 percent equity in May 2010.

SJVNL’s maiden project is located in Kinnaur district that started generation in 2004-05.

Its second mega hydropower project, 412 MW Rampur hydroelectric project in upper Shimla will be completed by early 2013.

It’s also executing one project each in Nepal and Bhutan.

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