SJVNL net profit in 2009-10 at Rs.972 crore

Shimla, July 6 (IANS) Hydropower major Satluj Jal Vidyut Nigam Ltd (SJVNL), which owns and operates the 1,500-MW Nathpa-Jhakri project in Himachal Pradesh, Tuesday reported a net profit of Rs.972.74 crore for the 2009-10 fiscal.

The state-run power utility posted a sales growth of Rs.161 crore on account of increased production.

SJVNL, the sixth divestment deal of the UPA government in its second term, is a joint venture between the central and the Himachal Pradesh government. The former held a 74.5 per cent stake, while the remaining 25.5 per cent is held by the state government.

However, the central government sold its 10 percent equity in May this year.

Currently, SJVNL has a paid up equity capital is Rs.4,108.81 crore.

The company announced a dividend of Rs.0.60 per share.

‘The board of governors declared the dividend of Rs.0.60 per share amounting to Rs.248.20 crore in addition to Rs.0.19 per share already paid as interim dividend for 2009-10, thereby making the total dividend for 2009-10 to Rs.328.20 crore,’ Chairman and Managing Director H.K. Sharma told IANS.

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