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					</table><p><a href="https://sjvn.nic.in/" target="_blank" rel="noopener">SJVN Limited</a>, a joint venture between the Government of India and the Government of Himachal Pradesh, posted a profit of ₹4.45 billion (~$55.22 million) in the second quarter (Q2) of the financial year (FY) 2023, an increase of 10% against ₹4.05 billion (~$50.26 million) during the same quarter last year.</p>
<p>However, the numbers decreased by 27% sequentially.</p>
<p>The company posted a total income of ₹9.16 billion (~$113.66 million), a decrease of 1% year-over-year (YoY). The numbers declined by 14.5% quarter-over-quarter (QoQ).</p>
<p>The company stated that sales from hydropower accounted for ₹8.58 billion (~$106.48 million) during the quarter, a drop of 0.23% YoY. The company generated 4,277 MU of hydropower during the quarter, decreasing by 1.61% YoY. The numbers increased by 60% sequentially.</p>
<p>Sales from renewable energy (wind and solar) accounted for ₹207.5 million (~$2.58 million) in Q2, a decline of 8% YoY. The company generated 49.04 MU of wind energy in Q2, a decrease of 12% YoY. The numbers dropped by 11.84% QoQ. During the quarter, 1.48 MU of solar energy was generated, a 17% YoY decrease. The numbers declined by 32% QoQ.</p>
<p><strong>1H FY 2023 </strong></p>
<p>The company reported a profit of ₹10.55 billion (~$130.93 million) in 1H FY23, a spike of 41% compared to ₹7.47 billion (~$92.71 million) during the corresponding period last year.</p>
<p>SJVN’s total income increased by 22% YoY to ₹19.88 billion (~$247.61 million).</p>
<p>Sales from hydropower accounted for ₹18.41 billion (~$228.47 million) during 1H, increasing by 22% Yoy. Sales from renewable energy (wind and solar) grew by 8% YoY to ₹422.7 million (~$5.25 million).</p>
<p>The company generated 6,955 MU of hydropower in 1H FY23, increasing by 3% YoY. It generated 104.67 MU of wind energy, increasing by 5% YoY and 3.8 MU of solar energy, decreasing by 6% compared to the same period last year.</p>
<p>The company stated that it had incorporated a wholly-owned subsidiary SJVN Green Energy to expand the renewable energy business. The holding company has approved the transfer of 15 renewable energy projects to SJVN Green Energy.</p>
<p>SJVN Green Energy and two other companies were recently <a href="https://mercomindia.com/ntpc-sjvn-hinduja-rumsls-phase-ii-300-mw-floating-solar-auction/" target="_blank" rel="noopener">declared</a> winners in the Rewa Ultra Mega auction for the 300 MW floating solar park (Phase II) at the Omkareshwar reservoir in Madhya Pradesh.</p>
<p>Last month, the company <a href="https://mercomindia.com/sjvn-to-develop-1-gw-of-solar-projects-in-assam/" target="_blank" rel="noopener">signed</a> a memorandum of understanding with the Assam Power Distribution Company to invest ₹60 billion ($728.32 million) for developing 1,000 MW of floating solar projects. The projects are expected to generate 2,192 MU in the first year after commissioning and scale up to 50,425 MU of cumulative energy over the next 25 years.</p>
<p>Earlier, the Ministry of New and Renewable Energy (MNRE) had <a href="https://mercomindia.com/daily-news-wrap-up-mnre-approves/" target="_blank" rel="noopener">approved</a> SJVN’s proposal to develop a 400 MW solar park in the Kinnaur district of Himachal Pradesh under Mode 8, i.e., Ultra Mega Renewable Energy Power Parks of its Solar Park Program.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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SJVN’s Profit Up 10% YoY to ₹4.45 billion in Q2 FY23

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