State-run hydropower generation company SJVN Ltd reported a net profit of ₹61.1 crore for the January-March period.
Last year, during the same period, the company had a profit of ₹17.2 crore. This significant increase is due to tax credits in the current quarter.
SJVN received a tax credit of ₹16 crore this quarter, compared to a tax expense of around ₹40 crore last year. However, revenue for the period decreased by 4.1%, falling to ₹482.9 crore from ₹503.8 crore last year.
Financial Performance Details
Earnings before interest, tax, depreciation, and amortization (EBITDA) dropped by 22.1% year-on-year to ₹239.7 crore.
The EBITDA margin also declined by nearly 1,200 basis points, dropping to 49.6% from 61.3% in the same period last year. This marks the first time in a year that SJVN’s margin has fallen below 50%.
Renewable energy sales contributed ₹106.8 crore during FY 2024, up from ₹68 crore in the same quarter last year.
Additionally, the company has declared a dividend of ₹0.65 per equity share, on top of the interim dividend of ₹1.15 per share announced earlier.
Share Performance
Shares of SJVN Limited rose by 2% to an intraday high of ₹141.50 on Wednesday. Over the past six months, the stock has gained 65%, and it has increased by 50% this year to date.
In the past year, SJVN shares have provided a return of up to 290%, rising from ₹35. In 2019, the stock price was ₹25, resulting in a total return of 448.72% since then.
The stock’s 52-week high price is ₹170.45, while its 52-week low price is ₹35.50. SJVN’s market cap stands at ₹54,879.59 crore.
