Shares of SJVN Ltd surged 8% on 14 August after the company announced its quarterly earnings for April-June. 

The company reported a 31% year-on-year increase in consolidated net profit to Rs 357 crore for the quarter under review compared to Rs 271.75 crore reported in the same quarter of the previous fiscal year. 

The revenue from operations of the company during the quarter stood at Rs 870.37 crore, marking a 29% YoY compared to Rs 674.79 crore reported in the corresponding quarter of the previous fiscal year. 

The company’s expenses during the quarter grew to Rs 476.39 crore compared to Rs 362.60 crore reported in the same quarter last year. 

Moreover, the company’s board of directors has also approved the monetisation of the Nathpa Jhakri Hydro Power Station (NJHPS) by securitising partial future revenue/return on equity. 

The company’s board has also approved the proposal to divest its stake in its wholly-owned subsidiary, SJVN Green Energy Ltd (SGEL), which is subject to various regulatory approvals. 

Earlier on 8 August, the company’s wholly-owned subsidiary SGEL had commissioned a 90-megawatt Floating Solar Project in Omkareshwar, Madhya Pradesh. 

At 1:30 pm, the shares of SJVN were trading 4.75% higher at Rs 143.64 on NSE.

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