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Informist, Monday, Nov. 10, 2025

 

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--SJVN Jul-Sept net profit INR 3.72 bln 
--SJVN Jul-Sept net profit INR 3.72 bln vs INR 4.73 bln year ago 
--SJVN Jul-Sept revenue INR 9.42 bln vs INR 9.95 bln year ago 
--SJVN appoints Sipan Kumar Garg as CFO 
--SJVN to raise up INR 10 bln via securitisation of Natpha Jhakri project 
--SJVN Apr-Sept net profit INR 6.31 bln vs INR 8.00 bln year ago 
--SJVN Jul-Sept operating margin 67.33% vs 74.95% year ago

 

By Adhithya Aji

 

MUMBAI – SJVN Ltd.'s net profit fell for the third consecutive quarter in Jul-Sept on the back of a 62% year-on-year rise in finance costs. The company's top line contracted year-on-year, also for the third consecutive quarter.

 

The state-owned power company reported a net profit of INR 3.72 billion for the September quarter, down 21% from INR 4.73 billion a year ago. Its revenue was INR 9.42 billion, down over 5% from INR 9.95 billion in the base quarter. Sequentially, the bottom line rose 44% and the top line rose nearly 15%.

 

The company's total expenses rose nearly 18% on year to INR 5.49 billion from INR 4.66 billion in the corresponding quarter a year ago. Its finance cost, constituting nearly 50% of total expenses, was INR 2.70 billion, up nearly 48% on quarter. Sequentially, the finance cost rose at its fastest pace in five quarters and, as per data available with Informist, was the highest incurred by the company since the December quarter of 2014. SJVN's finance cost has grown in double digits year-on-year for the past nine quarters.

 

The operating margin of the power company contracted 762 basis points to 67.33% from 74.95% a year ago. The Navratna company's net profit margin contracted 805 basis points to 39.52% from 47.57% reported in the year-ago quarter.

 

The company's board appointed Sipan Kumar Garg as chief financial officer. Garg had earlier served in the same position for Aravali Power Company Pvt. Ltd. and Patratu Vidyut Utpadan Nigam Ltd., both subsidiaries of NTPC Ltd. The board also approved raising up to INR 10 billion through securitisation of the Nathpa Jhakri Hydro Electric Project, to achieve the target for the financial year 2025-26 (Apr-Mar) under the National Monetisation Pipelines.

 

The company said it had spent INR 2.51 billion as of Sept. 30 for the Devasari Hydro Electric Project in Uttarakhand, which had been put on hold by the Ministry of Power in July 2021. The company approached the government requesting to release the hold and is hopeful that the government will give a green light for the completion of the project. 

 

For the six months ended September, the company reported a net profit of INR 6.31 billion, down over 21% on year. Revenue from operations for the period was INR 17.64 billion, down over 3% on year. The company detailed its September quarter earnings during market hours. At 1453, shares of SJVN were down nearly 1% at INR 84.15 on the National Stock Exchange.  End

 

Edited by Rajeev Pai

 

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