SJVN tumbled 17.53% to Rs 115.95 after the company reported 51.65% decline in consolidated net profit to Rs 138.97 crore in Q3 FY24 as compared with Rs 287.42 crore in Q3 FY23.
Revenue from operations fell 1.57% to Rs 543.31 crore during the quarter as compared with Rs 551.99 crore posted in corresponding quarter last year.
Profit before exceptional items and tax stood at Rs 199.45 crore in Q3 FY24, down 39.65% as against Rs 330.48 crore posted in Q3 FY23. The company reported an exceptional profit of Rs 24.99 crore in Q3 FY24.
Total expenses increased 7.28% to Rs 409.33 crore in Q3 FY24 as compared with Rs 381.85 crore in Q3 FY23. Employees benefit expenses was at Rs 65.48 crore (down 6.94% YoY), while finance Cost was at Rs 122.37 crore (up 16.24% YoY) during the period under review.
On nine month basis, the companys consolidated net profit fell 36.63% to Rs 850.36 crore in 9M FY24 as compared to Rs 1,342.09 crore recorded in 9M FY23. Revenue from operations fell 13.88% YoY to Rs 2,096.46 crore in 9M FY24.
Meanwhile, the company's board has declared an interim dividend of Rs 1.15 per equity share for the financial year 2023-24. The record date for the same is fixed on Wednesday, 21 February 2024. The said interim dividend will be paid from Monday, 4 March 2024 onwards.
Further the company's board of directors approved designating Geeta Kapur, director (personnel) holding additional charge of chairperson and managing director of the company pursuant to Ministry of Power as key managerial personnel of the company with immediate effect.
SJVN is engaged principally engaged in electricity generation. The company is also engaged in the business of providing consultancy.
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