State-owned SJVN Ltd on Wednesday reported an over 98 per cent decline in its consolidated net profit to Rs 7.49 crore in the March 2022 quarter, mainly due to lower revenues.

The company had posted a consolidated net profit of Rs 619.92 crore in the quarter ended March 31, 2021, a BSE filing showed.

Total income in the quarter declined to Rs 393.87 crore from Rs 1,084.96 crore a year ago.

For the 2021-22 fiscal, the consolidated net profit dipped to Rs 989.80 from Rs 1,645.72 crore in 2020-21.

Total income in the fiscal declined to Rs 2,634.78 crore from Rs 3,222.84 crore in 2020-21.

The Board has recommended a final dividend of Rs 0.55 per share of Rs 10 each for the FY 2021-22, subject to the approval of shareholders in the ensuing annual general meeting.

The final dividend is in addition to the interim dividend of Rs 1.15 per equity share for 2021-22 paid in February 2022.

The company is primarily engaged in the generation and sale of power and the operations of the group are mainly carried out within the country. PTI KKS KKS BAL BAL

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