SJVN's September quarter net profit drops 1.3% to Rs 439.64 crore

10 Nov 2023 , 12:07 PM

The consolidated net profit of state-owned SJVN Ltd decreased slightly to Rs 439.64 crore on Thursday.

According to a regulatory statement, its consolidated net profit for the quarter that ended on September 30, 2022, was Rs 445.44 crore.

Total income rose to Rs 951.62 crore in the September quarter compared to Rs 916.25 crore in the same period last year.

The business announced on Tuesday that Uttarakhand Power Corporation Ltd. (UPCL) had sent them a letter of intent to buy 200 MW of green energy.

According to a statement from SJVN, UPCL plans to buy 200 MW of power at a cost of Rs 2.57 per unit from its 1,000 MW Bikaner Solar Project in Rajasthan.

‘The company has secured a Letter of Intent from Uttarakhand Power Corporation Ltd. to purchase 200 MW of solar power. Under the CPSU Scheme, the solar project is being developed in Rajasthan by SJVN Green Energy Ltd (SGEL), a fully owned subsidiary of the corporation, with finance support from the Government of India to bridge the viability gap.

Governmental organizations will use the project’s electricity directly or through discoms.

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