The shares of Satluj Jal Vidyut Nigam (SJVN) witnessed a sharp decline of more than 19% in its share price on Monday, February 12, in response to the company’s performance in the December quarter.
On Friday, February 9, the company disclosed a significant year-on-year decrease of 51.6% in its net profit, amounting to ₹139 crore for the third quarter ending December 31, 2023.
According to a regulatory filing, SJVN reported a net profit of ₹287 crore for the corresponding quarter last year. Meanwhile, the company’s revenue from operations saw a marginal decrease of 1.6%, amounting to ₹543.3 crore compared to ₹552 crore in the same period of the previous fiscal year.
At the operational level, SJVN witnessed a 3.2% decline in EBITDA, which stood at ₹368.5 crore for the third quarter of this fiscal year, compared to ₹380.6 crore year-over-year. The EBITDA margin for the reporting quarter was noted at 67.8%, down from 69% in the corresponding period of the preceding fiscal year. EBITDA represents earnings before interest, tax, depreciation, and amortization.
In addition, SJVN announced that its board of directors has approved an interim dividend of ₹1.15 per equity share for the financial year 2023-24, as per the regulatory filing submitted to exchanges.
Also read: Sakthi Sugars share price slumps 10%, here’s why
“We would like to inform that the Board of Directors in the aforesaid meeting have also approved an interim dividend of ₹1.15/- per equity share for the Financial Year 2023-24. The record date for the same is fixed on 21.02.2024. The payment of dividend shall start from 04.03.2024 onwards,” the company said.
Over the previous month, the stock has surged by 22.73%, marking a substantial increase. Furthermore, over the last six months, it has experienced an impressive growth of 100.87%, demonstrating a remarkable upward trend. Looking back over the past year, the stock has soared by an impressive 261.74%, showcasing remarkable long-term performance.
Here’s your comprehensive 3-minute summary of all the things Finance Minister Nirmala Sitharaman said in her Budget speech: Click to download!
Download The Mint News App to get Daily Market Updates.
Published: 12 Feb 2024, 04:53 PM IST