Shares of state-run SJVN surged over 8% in early trading on Wednesday after the company announced its June quarter results post-market hours on Tuesday. The share price of SJVN jumped 8.54% to intra-day high of Rs 148.84 on NSE.
Strong Q1 Performance
The company reported a robust 29% increase in revenue, reaching Rs 870.4 crore. Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) grew by 33% year-over-year to Rs 667.5 crore. The EBITDA margin expanded by 220 basis points to 76.7%, up from 74.5% in the same quarter last year.
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Increased Net Profit and Power Generation Capacity
SJVN’s net profit for the quarter stood at Rs 357.1 crore, reflecting a 31.4% increase compared to Rs 271.8 crore in the corresponding period last year. The company also achieved a 14% increase in installed capacity and a significant 56.3% rise in gross power generation, reaching 3,292 million KWh.
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Board Approves Stake Dilution in SJVN Green Energy
In addition to the strong financial results, SJVN’s board has given in-principle approval for the monetization through securitization of partial future revenue and Return on Equity (RoE) of its Nathpa Jhakri Hydro Power Station.
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The board also approved the dilution of its stake in its wholly-owned subsidiary, SJVN Green Energy Ltd., subject to approvals from the Disinvestment Department (DIPAM) and the Ministry of Power.
Stock Performance in Last One Year
In terms of stock performance, SJVN shares have demonstrated positive returns across multiple time frames. Over the past three months, the stock has given a commendable 11.34% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 20.58%, indicating a strong upward trend.
Year-to-date, SJVN shares have surged by 59.82%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 152.58% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
