SJVN Ltd's Q3FY19 standalone net profit declines 24.6% yoy to Rs155cr

The company’s standalone revenue stood at Rs485cr, up 7.4% yoy but down 35.6% qoq.

Feb 08, 2019 08:02 IST India Infoline Research Team


Standalone Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 485 7.5
EBITDA 332 5.7
EBITDA Margin (%) 68.5 [117]
Net Profit (adjusted) 155 [24.7]
***EBITDA margin change is bps

SJVN reported slight growth in revenues and EBITDA in Q3FY19. However, adjusted net profit was lower due to adverse movement in net regulatory deferral account balance. Revenue rose by 7.5% yoy to Rs485cr. EBITDA stood at Rs332cr, up 5.7% yoy, while EBIDTA margin fell by 117bps yoy to 68.5%. Adjusted Net Profit stood at Rs155cr, down 24.7% yoy.
  • Sales for NJHPS have been provisionally recognized at Rs335cr for Q3FY19 (up 3.9% yoy).
  • Sales for Rampur Hydro Power Station (RHPS) have been provisionally recognized at Rs145cr for the quarter, up 15.8% yoy.
  • Power generation for Q3FY19 stood at:
    • Hydro – 1,303mn units, up 1.7% yoy
    • Wind – 9.3mn units, up 92.5% yoy
    • Solar – 2.17mn units, up 1.4% yoy
  • The company has provisioned an amount of Rs59.5cr towards regularization of pay scales.
  • The Board of directors has declared an interim dividend of Rs1.5 per share.

Technical View:

SJVN Ltd is currently trading at Rs. 26, up by 0.45 points or 1.76% from its previous closing of Rs. 25.55 on the BSE.
The scrip opened at Rs. 25.90 and has touched a high and low of Rs. 26 and Rs. 25.50 respectively. So far 3,17,862 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.

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