State-owned electricity producer SJVN Ltd reported a significant decline of over 55% in its consolidated net profit for the June quarter, settling at ₹271.75 crore. This drop can be primarily attributed to reduced revenues. In the corresponding quarter of the previous year, the company had recorded a consolidated net profit of ₹609.23 crore, as indicated in a filing with the Bombay Stock Exchange (BSE).
During the first quarter of the current fiscal year, the total income of the company fell to ₹744.39 crore, down from ₹1,072.23 crore in the same period of the previous year.
Meanwhile, SJVN Ltd has entered into a trade agreement with Sikkim Urja Ltd to procure 180 megawatts (MW) of hydro power. According to a statement issued on Thursday, this power will be supplied to distribution licensees and open access consumers as outlined in the agreement.
SJVN, a public sector entity, is engaged in the generation and transmission of hydroelectric power. The trading day concluded with SJVN’s shares on the National Stock Exchange (NSE) priced at Rs. 54.46, marking a marginal decrease of 0.13%.