SJVN Ltd Reports Profit Decline and Announces Rs 1,000 Crore Fundraising Plan

SJVN Ltd reported a 30% decrease in net profit for Q2, at Rs 307.80 crore, compared to last year's Rs 439.90 crore. The company also announced a Rs 1,000 crore fundraising plan. SJVN's board approved the securitization of future revenue to meet targets and appointed Sipan Kumar Garg as CFO.

SJVN Ltd has announced a significant drop in its consolidated net profit by 30% year-on-year, totaling Rs 307.80 crore for the September quarter. This is a notable decrease from the previous year's Rs 439.90 crore for the same period.

Alongside reporting its financial performance, SJVN revealed plans to secure an additional Rs 1,000 crore. This move involves the securitization of the future revenue or return on equity from the Natpha Jhakri Hydro Electric Project, as part of efforts to meet targets under the National Monetization Pipelines initiative for FY 2025-26.

The board has also filled a key position within its executive team by appointing Sipan Kumar Garg as the new Chief Financial Officer. Garg transitions to this role from his position as Director (Finance) at THDC India Ltd, where he has served since August 2024.

(With inputs from agencies.)