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Informist, Monday, Aug. 11, 2025

--SJVN Apr-Jun net profit INR 2.59 bln vs INR 3.27 bln year ago 

--SJVN Apr-Jun revenue INR 8.22 bln vs INR 8.32 bln year ago 

--SJVN Apr-Jun operating margin 72.37% vs 76.85% year ago 

By Gopika Balasubramanium

MUMBAI – State-owned SJVN Ltd.'s bottom line for the June quarter fell in double digits on year owing to poor top-line growth and higher expenses. The company's net profit has declined for two quarters now. Its top line also saw an on-year fall for the second straight quarter, but the fall was marginal.

The Navaratna company, headquartered in Shimla, Himachal Pradesh, reported a decline of almost 21% on year in its net profit for the June quarter to INR 2.59 billion. The profit figure was significantly lower than the INR 3.85 billion estimated by JM Financial Services, the only brokerage whose report on the firm is available with Informist. On a quarter-on-quarter basis, the company's net profit rose more than eight times.

The company's top line rose marginally on year to INR 9.07 billion for the June quarter. This included other income of INR 849.5 million which rose over 19% on year for the quarter. Excluding this, the company's revenue from core operations declined 1.1% on year to INR 8.22 billion, missing JM Financial's estimate of INR 9.38 billion. Sequentially, the metric rose 84%.

SJVN declared its earnings minutes before the equity market closed Monday. The company's shares ended nearly 1% higher at INR 93.01.

SJVN's operating margin for the reporting quarter fell to 72.37% from 76.85% last year. Its net profit margin fell to 31.43% in Apr-Jun from 39.33% a year ago.

The Navratna company's total expenses for the June quarter were INR 4.64 billion, up 2.5% on year. Of the items under expenses, only finance costs and other expenses rose. Its expenditure towards electricity purchased for trading was zero, while its employee benefits expenses declined nearly 8% on year to INR 736.30 million. While its depreciation and amortisation expenses fell nearly 1% on year to INR 1.14 billion, its other expenses rose 4.5% on year to INR 941.5 billion. The company's tax expenses were INR 1.59 billion, much higher than INR 1.02 billion a year ago.  End

Edited by Rajeev Pai

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