SJVN Ltd.'s net profit increased 7% in the third quarter of the financial year, beating analysts' estimates.
The hydroelectric power company posted a profit of Rs 149.03 crore in the quarter ended Dec. 31, according to an exchange filing on Thursday. This compares with the Rs 128 crore consensus estimate of analysts polled by Bloomberg.
In the year-ago period, the company had posted a profit of Rs 138.97 crore.
The revenue went up by 23.5% to Rs 670.99 crore as compared to Rs 543.31 crore in the same quarter of the last fiscal, beating analysts' estimates of Rs 592 crore.
The company's earnings before interest, taxes, depreciation, and amortisation rose by 26% to Rs 462.91 crore during the quarter under review from Rs 368.47 crore in the year-ago period, beating estimates of Rs 395 crore. The margin expanded to 69% from 67.8% in line with estimates of 66.7%.
SJVN Q3 Highlights (Consolidated, YoY)
Revenue up 23.5% to Rs 670.99 crore versus Rs 543.31 crore (Bloomberg estimate: Rs 592 crore).
Ebitda up 26% to Rs 462.91 crore versus Rs 368.47 crore (Estimate: Rs 395 crore).
Margin expanded to 69% versus 67.8% (Estimate: 66.7%).
Net profit is up 7% to Rs 149.03 crore versus Rs 138.97 crore (Bloomberg Estimate: Rs 128 crore).
SJVN announced an interim dividend of Rs 1.15 per equity share for the third quarter of fiscal 2025. The company announced distribution of Rs 1,671 crore to shareholders in the third quarter of this fiscal.
The board has fixed Feb. 21 as the record date for the purpose of dividend payment, according to an exchange filing on Thursday. The payment of the dividend will start from March 6.
Shares of SJVN rose as much as 2.64% during the day to Rs 92.57 apiece on the National Stock Exchange. It closed 3.34% higher at Rs 93.20 per share, compared to a 0.27% advance in the benchmark Nifty. The share price has fallen 14.41% on a 12-month basis.
Three out of the five analysts tracking the company have a 'buy' rating on the stock, one suggests 'hold,' and one recommended a 'sell,' according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 12.3%.
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