Following the release of the Q1 results on Wednesday morning, the share price of multibagger SJVN Ltd increased by almost 8%. On Tuesday, the SJVN results were released after market hours. SJVN’s consolidated net profit increased 31% year on year to ₹357.
Opening at ₹144.20, the SJVN share price was more than 5% higher than the previous closing of ₹137.10. The price of SJVN’s shares then increased further, reaching ₹148.10, indicating gains of more than 8.5%.
With ₹870.35 crore in operation revenues, the state-owned hydropower company SJVN recorded a 29% year on year increase from ₹674.8 crore in the same quarter last year.
Even while revenue growth was still solid, the increase in other income helped to somewhat balance the gain in net profit. With ₹88 crore, Other Income exceeded ₹69.6 crore from the same period last year.
As of 10:19 am, SJVN shares trading 5.75% higher at Rs 145.01 on the NSE.
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