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State-run SJVN Ltd today reported a 20.31 per cent decline in standalone net profit at Rs 147.48 crore for the March quarter due to charging lower tariff from consumers of its Nathpa Jhakri Hydro project.
The company had posted a net profit of Rs 185.08 crore for the corresponding quarter of the 2014-15 fiscal.
Central Electricity Regulatory Authority (CERC) had brought new tariff regulation for determination of tariff for a period of five years from April 1, 2014.
Pending approval of tariff by CERC in respect of Nathpa Jhakri project, sales/billing to beneficiaries (consumers) has been made in accordance with the tariff approved as on March 31, 2014 provided in Tariff Regulation 2014, SJVN Ltd said in a BSE filing.
During 2015-16, the company's turnover from Nathpa Jhakri project was Rs 1,863.31 crore as compared to Rs 2,401.17 crore in the previous fiscal.
According to statement, the company's total income on standalone basis decreased to Rs 337.43 crore in the fourth quarter form Rs 601.95 crore of three-month period in the preceding fiscal.
The company has posted a decline in standalone net profit of Rs 1,408.48 crore for 2015-16 as compared to Rs 1,676.75 crore for 2014-15.
Total standalone income has also decreased from Rs 3,255.92 crore for the year ended March 31, 2015 to Rs 2,908.21 crore for the year ended March 31, 2016.
SJVN Ltd has also informed that the Board of Directors of the company at a meeting held today has recommended a final dividend of Rs 0.47 per share of Rs 10 each for 2015-16.
The audited consolidated net profit of the company is Rs 1,402.15 crore for fiscal 2016 as compared to Rs 1,676.65 crore for fiscal 2015.
Total consolidated income has decreased from Rs 3,255.85 crore for 2014-15 fiscal to Rs 2,909.92 crore in last fiscal.
