Miniratna PSU Declares 254.91% Jump In Net Profit, Re 0.65/Share Dividend; Shares Surge 289% In 1-Yr

Miniratna public sector undertaking SJVN Ltd shares today gained 0.40% to Rs 139.65 per share on BSE. The Board of Directors of SJVN Ltd. recommended a final dividend of Re 0.65/- per equity share for the financial year 2023-24. SJVN shares witnessed stunning rally of 289% in last 1-year only. The company today declared a jump of 254.91% jump in its consolidated net profit for the quarter ended March 31, 2024 to Rs 61.08 crore as against the net profit of Rs 17.21 crore in the corresponding quarter of last year. More details below:

SJVN Recommends Final Dividend: Board of Directors in the aforesaid meeting have recommended a final dividend of ₹0.65/- per equity share for the Financial Year 2023-24 subject to the approval of shareholders in the ensuing Annual General Meeting. The final dividend is in addition to the interim dividend of ₹1.15/- per equity share for the Financial Year 2023-24 declared in the month of February 2024 and will be paid within the statutory period as per the Companies Act, 2013."

SJVN Q4: The company today declared its total income at Rs 573.23 crore for the quarter ended March 31, 2024 as against Rs 582.78 crore reported in the similar quarter of last year. The company declared its consolidated net profit for 2023-24 at Rs 911.44 crore as compared to Rs 1359.30 crore in the year ago period. Total income of SJVN for 2023-24 declined to Rs 2876.96 crore as against Rs 3,282.50 crore announced in 2022-23.

Board of Directors of SJVN gave their nod to inking of 50:50 joint venture agreement with Indian Oil Corporation Ltd (IOC) for the formation of joint venture company for developing green round-the-clock and renewable projects, along with other new technology-based projects. The formation of the joint venture company is also subject to the approval of the Ministry of Power, NITI Aayog, Department of Investment and Public Asset Management (DIPAM, Ministry of Finance), added the BSE filing of the company.

SJVN Shares Performance & Return: The 52-week high price of SJVN shares on BSE is Rs 170.45 apiece (as on 05/02/2024) and 52-week low price is Rs 35.50 apiece (as on 01/06/2023), respectively. The company has a market capitalisation of Rs 54,879.59 crore. SJVN shares declined 4.45% in last 1-week, gave return of 15% in last 3-months, rallied over 415% in last 2-years, and jumped 451% in last 5-years.

SJVN Ltd About: It is a Mini Ratna, Category-I and Schedule -'A' CPSE under administrative control of Ministry of Power, Govt. of India, was incorporated on May 24, 1988 as a joint venture of the Government of India (GOI) and the Government of Himachal Pradesh (GOHP). SJVN is now a listed Company having shareholders pattern of 55.00% with Govt. of India, 26.85% with Govt. of Himachal Pradesh and rest of 18.15% with Public. SJVN is presently implementing or operating power projects in Himachal Pradesh, Uttarakhand, Bihar, Maharashtra, Uttar Pradesh, Punjab, Gujarat, Arunachal Pradesh, Rajasthan, Assam, Odisha, Mizoram and Madhya Pradesh in India besides neighboring country of Nepal, according to its official website.

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