ADVERTISEMENT

JSW Energy Q1 Results: Profit Down By Half On Higher Expenses

Ebitda and Ebitda margin were up on better renewable capacity addition and higher electricity generation.

<div class="paragraphs"><p>JSW Energy plant in Vijayanagar, Karnataka. (Photo: Company’s website)</p></div>
JSW Energy plant in Vijayanagar, Karnataka. (Photo: Company’s website)

JSW Energy Ltd.’s profit for the first quarter of fiscal 2024 declined by close to half on higher expenses.

Net profit for the quarter ended June was down 47.66% to Rs 290.35 crore, according to its exchange filing.

JSW Energy Q1 FY24 Highlights (YoY)

  • Net profit in the year-ago period had a one-time gain on reversal of loss on a loan in FY22. Adjusted for that, net profit fell 33.21%.

  • Revenue from operations declined 3.25% to Rs 2,927.85 crore.

  • Operating profit or Ebitda rose 19.57% to Rs 1,222 crore on account of higher contribution from Mytrah Energy business integration and higher renewable energy contribution.

  • Operating margin was up 796 basis points to 41.73% during the quarter led by higher realisation on per unit of power sale.

The overall generation during the quarter was up 14% YoY to 6.7 billion units. This was led by higher generation at the Ratnagiri plant and higher renewable capacity additions, including that from Mytrah Energy, the company said in a statement.

The net long-term generation was up 18% YoY, while the net renewable generation gained 35% YoY to 2.3 billion units.

Shares of JSW Energy closed 1.84% up as compared with a 0.77% gain in the benchmark Sensex.

OUR NEWSLETTERS
By signing up you agree to the Terms & Conditions of NDTV Profit