Shimla, July 30 (IANS) Hydropower major Satluj Jal Vidyut Nigam Ltd (SJVNL) has achieved more than seven percent growth in its net sales during the first quarter of this fiscal from its maiden project in Himachal Pradesh, a company's top official said Friday.

'During the first quarter of this financial year, we have recorded more than 7 percent growth in the net sales from the operation of 1500-MW Nathpa Jhakri hydropower station over the corresponding period of last year,' H.K. Sharma, chairman and managing director of SJVNL, told IANS.

He said the net sales during the quarter increased to Rs.524.98 crore against last year's Rs.489.32 crore.

'The company has earned a net profit of Rs.290.76 crore against Rs.285.30 crore earned during the corresponding period of last year,' he added.

In the last financial year, SJVNL had earned a net profit of Rs.972.74 crore.

SJVNL, a joint venture between the central government and the state, is supplying electricity to nine northern states.

In May this year it got listed on the Bombay Stock Exchange and National Stock Exchange.

SJVNL, which commenced commercial generation from its six units of 250 MW each in 2003 in Kinnaur district, is executing a 412 MW Rampur hydroelectric project in the state.

At present, the company is implementing 10 hydropower projects to add 4,000 MW of capacity. It is also executing one project each in Nepal and Bhutan.

The Nathpa-Jhakri project generates about 38 million units daily, which is supplied to Punjab, Haryana, Chandigarh, Himachal Pradesh, Delhi, Jammu and Kashmir, Rajasthan, Uttar Pradesh and Uttarakhand.