SJVNL posts dip in profits for FY 2009-10

Shimla: Satluj Jal Vidyut Nigam Ltd, (SJVNL) the government owned power company announced it’s financial year results for the year 2009-10. It posted a marginal dip of 4.19 per cent in its profit after tax at Rs 972.74 crore  compared to Rs 1,015.32 crore during the previous fiscal.

SJVN dam at NathpaThe decline in profits was mainly because there was no inclusion of arrears on tariff revision in 2009—10, unlike the previous fiscal.

“Our outlook for the next five years is that we want to exceed 5,000 MW capacity,” CMD SJVNL H K Sharma told reporters, adding that the PAT for 2008—09 was higher because the company had received arrears from the CERC on account of tariff revision.

SJVNL, which got listed on the capital market in May 2010, is in the process of adding capacity to the tune of 4,000 MW in its 10 projects.

The company’s 412 MW Rampur Hydro Electric Project in Himachal Pradesh is scheduled for completion in 2013. With its Nathpa Jhakri project in Himachal Pradesh, the power generation capacity of the company stands at 1,500 MW at present.

SJVNL has also entered the power transmission business through the commencement of investigation to lay transmission lines for its upcoming 900 MW Arun—III power project in Nepal.

SJVNL is a joint venture company between the Government of  Himachal Pradesh and the Union government. It is currently working on three projects in Himachal Pradesh, three projects in Uttarakhand, one project in Manipur,  two projects in Bhutan and one project in Nepal .

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