Multibagger SJVN jumps 8% after Q1 net profit zooms 31%

SJVN shares delivered positive returns over various time periods. In the past three months, the stock has delivered a commendable 11.34% return, reflecting its stability and growth potential. Over the last six months, the performance has been even more impressive, with a substantial increase of 20.58%, highlighting a robust upward trend.

Written by Dev Sethia

Updated: August 14, 2024 11:51 IST

On Wednesday, SJVN's share price surged by 8.54%, reaching an intra-day high of Rs 148.84 on the NSE. (Photo: Reuters)

Shares of state-run SJVN surged over 8% in early trading on Wednesday after the company announced its June quarter results post-market hours on Tuesday. The share price of SJVN jumped 8.54% to intra-day high of Rs 148.84 on NSE.

Strong Q1 Performance

The company reported a robust 29% increase in revenue, reaching Rs 870.4 crore. Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) grew by 33% year-over-year to Rs 667.5 crore. The EBITDA margin expanded by 220 basis points to 76.7%, up from 74.5% in the same quarter last year.

Increased Net Profit and Power Generation Capacity

SJVN’s net profit for the quarter stood at Rs 357.1 crore, reflecting a 31.4% increase compared to Rs 271.8 crore in the corresponding period last year. The company also achieved a 14% increase in installed capacity and a significant 56.3% rise in gross power generation, reaching 3,292 million KWh.

Board Approves Stake Dilution in SJVN Green Energy

In addition to the strong financial results, SJVN’s board has given in-principle approval for the monetization through securitization of partial future revenue and Return on Equity (RoE) of its Nathpa Jhakri Hydro Power Station.

Stock Performance in Last One Year

In terms of stock performance, SJVN shares have demonstrated positive returns across multiple time frames. Over the past three months, the stock has given a commendable 11.34% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 20.58%, indicating a strong upward trend.

Year-to-date, SJVN shares have surged by 59.82%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 152.58% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.

This article was first uploaded on August fourteen, twenty twenty-four, at forty-eight minutes past ten in the morning.