Shares of JSW Energy Ltd. surged nearly 6% on Wednesday after the company reported strong operating numbers in the fourth quarter of financial year 2024.
The Sajjan Jindal-led power producer's consolidated net profit jumped 22% to Rs 345.3 crore in the quarter ended March, according to an exchange filing. The net debt to equity was at 1.3 times, while net debt to Ebitda was at 4.5 times, and the net debt to Ebitda, excluding the current work in progress, was at 2.9 times.
JSW Energy Q4 Earnings Highlights (Consolidated, YoY)
Revenue rose 3.2% to Rs 2,755.9 crore versus Rs 2,669.9 crore.
Ebitda rose 58% to Rs 1,178.5 crore versus Rs 745.3 crore.
Margin expands to 42.8% versus 27.9%.
Net profit up 22% to Rs 345.3 crore versus Rs 282.1 crore.
JSW Energy's stock rose as much as 5.8% during the day to Rs 617 apiece on the NSE. It pared gains and was trading 2.48% lower at Rs 569.5 per share, compared to a 0.15% decline in the benchmark Nifty 50 at 11:30 a.m.
The share price has risen 116% in the last 12 months and 39.3% on a year-to-date basis. The total traded volume so far in the day stood at 3.1 times its 30-day average. The relative strength index was at 43.
Six out of the 12 analysts tracking the company have a 'buy' rating on the stock, two recommend 'hold' and four suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 10.5%.
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