Shares of SJVN surged over 6 percent following the company's strong financial performance for the first quarter of FY25.
The hydropower company's consolidated net profit saw a significant increase of 31 percent, reaching Rs 357.09 crore, driven by higher income.
SJVN's total income also saw a 29 percent year-on-year growth, amounting to Rs 958.47 crore.
The company's expenses for the quarter were reported at Rs 476.39 crore, up from Rs 362.60 crore in the same period last year.
In a regulatory filing, SJVN revealed that its board of directors had granted in-principle approval for monetizing future revenue and return on equity from its Nathpa Jhakri Hydro Power Station (NJHPS).
Additionally, the board approved a proposal for the potential dilution of its stake in the wholly-owned subsidiary, SJVN Green Energy Ltd, pending regulatory approvals.
Moreover, SJVN's board has designated Director (Projects) Sushil Sharma, who currently holds additional responsibilities as Chairperson and Managing Director, as Key Managerial Personnel, following an order from the Ministry of Power.
As of 9:38 am, SJVN shares were trading 5.8 percent higher at Rs 144.09 on the National Stock Exchange (NSE).
Over the past year, the stock has surged 150 percent, significantly outperforming the benchmark Nifty, which rose 25 percent during the same period.
On a year-to-date basis, SJVN shares have gained 55 percent, compared to an 11 percent rise in Nifty.
