Satluj Jal Vidyut net up 24% on higher power sales

Public sector hydro power producer Satluj Jal Vidyut Nigam Ltd has reported a 24 per cent increase in net profit for the first quarter of fiscal 2014-15 on the back of higher electricity sales. For the quarter, net profit stood at ₹424.29 crore against ₹343.24 crore in the same quarter last year. Total revenue from operations rose 25 per cent to ₹674.71 crore (₹540 crore). SJVN Ltd is a joint venture between the Union Government and the Himachal Pradesh Government. Four units of the 421-MW Rampur hydel project began generating electricity during the quarter. On Monday, SJVN’s shares closed 3.13 per cent higher on the BSE at ₹24.70.