PSU Satluj Jal Vidyut Nigam (SJVN) Limited, powered by unprecedented gains, clocked a two-fold jump in consolidated profit to Rs 61.08 crore during the March quarter. The company reported a consolidated net profit of Rs 17.21 crore in the year-ago period, and its financial results of the company showed exceptional gains of Rs 103.84 crore during the quarter.
SJVNL’s board of directors approved a final dividend of Rs 0.65 per equity share for the 2023-24 fiscal year, subject to the approval of shareholders in the ensuing annual general meeting. The final dividend is in addition to the interim dividend of Rs 1.15 per equity share for FY24 declared in February 2024 and will be paid within the statutory period.
The SJVN board is set to sign a 50:50 joint venture agreement with Indian Oil Corporation Ltd, for the formation of a joint venture company for developing green round-the-clock and renewable projects, along with other new technology-based projects. The formation of the joint venture company is also subject to the approval of the Ministry of Power, NITI Aayog, Department of Investment and Public Asset Management (DIPAM, Ministry of Finance).
The PSU has a shareholders pattern of 55% with the Government of India, 26.85% with the Himachal Pradesh government, and the remaining 18.15% with the public.
