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State government owned renewable power generation company SJVN (Satlaj Jal Vidyut Nigam), whose shares zoomed almost 8 per cent on the NSE (National Stock Exchange), after company signed a MoU (Memorandum of Understanding) with Bihar government for 1000 MW Hathidah Durgawati Pumped Storage Project alon with PSPs in Bihar.
The shares of SJVN (Satlaj Jal Vidyut Nigam) went on to touch the day high level of Rs 112.33 per share on the NSE (National Stock Exchange), aftter hitting the opening bell at Rs 107.28 per share on the bourses.
SJVN's shares were trading around Rs 111.24 per share on the Indian exchanges, with massive surge of 6.54 per cent amounting to a Rs 6.83 per share on the NSE (natinal Stock Exchanges).
Project cost and details
The projected cost of this order is Rs 5,663 crore, based on February 2024 price levels, with a levelized tariff of Rs 9.39 per kWh (assuming a pumping energy rate of Rs 3 per kWh).
SJVN said in the statement that the PSPs development in Bihar will raise approximately Rs 10,000 crore in investment and provide 5000 people with direct and indirect jobs.
The Government of India designated SJVN as the nodal agency for the development of Pumped Storage Projects (PSPs) in Bihar in August 2022 through the Ministry of Power.
SJVN Q2 FY25
Net Profit Q2 FY25
According to the exchange filling of state-owned SJVN, its consolidated net profit for the September quarter was Rs 439.90 crore, which remained unchanged. The company stated that its profit for the period ending in September 2023 was Rs 439.64 crore.
Total Revenue Q2 FY25
The company's total revenue increased from Rs 951.62 crore to Rs 1,108.43 crore in the previous year.
Compared to the same period last year, its expenses increased from Rs 398.22 crore to Rs 528.88 crore
