SJVN Q4 profit drops 13% to Rs 399 cr; total income falls to Rs 697.63 cr

State-run power producer SJVN Ltd on Monday reported a 13 per cent decline in consolidated net profit to Rs 399.21 crore for the January-March quarter compared to the year-ago period.

The consolidated net profit was Rs 458.76 crore in the quarter ended on March 31, 2019, a regulatory filing said.

Total income in the quarter declined to Rs 697.63 crore from Rs 874.71 crore in the same period last year.

Its consolidated net profit rose to Rs 1,661.21 crore in 2019-20, from Rs 1,366.54 crore in 2018-19. Total income in 2019-20 was Rs 3,097.42 crore up from Rs 2,907.94

The board has recommended a final dividend of 0.50 paisa per share of 10 each for 2019-20 subject to the approval of shareholders in the ensuing Annual General Meeting.

The final dividend is in addition to the interim dividend of Rs1.70 per equity share for 2019-20 paid in the month of February, 2020.

SJVN is primarily engaged in only generation and sale of power.

The company has also approved a consolidated one-time rebate of Rs 57.82 crore to the DISCOMs and Power Departments of States/Union Territories for the lockdown period.

Out of this, an amount of Rs 6.09 crore pertains to current financial year and has been adjusted from the revenue from operations and balance amount of Rs 51.73 crore will be adjusted from the bills of financial year 2020-21.

There will be no impact of lockdown due to COVID-19 pandemic on the company's ability to continue as a going concern. Further in the opinion of the management there is no indication of any impairment of assets, the company said.

The company generated 9.54 billion units (BU) hydro power in 2019-20 up from 8.33 BU.

The company also generated 128.11 million units (MU) wind power in 2019-20 as against 91.74 MU. Its solar energy generation is 6.58 MU in 2019-20 down from 7.40 MU in 2018-19.