JSW Energy Ltd. on Thursday reported an increase in profits in the second quarter of fiscal 2025, topping analysts' estimates.
The company's bottom line rose 2% year-on-year on a consolidated basis to Rs 876.76 crore in the July-September quarter, according to an exchange filing on Thursday. Analysts polled by Bloomberg had estimated the net profit at Rs 752.71 crore.
JSW Energy Q1 Results: Key Highlights (Consolidated, YoY)
Revenue rose 0.7% to Rs 3,237.66 crore (Bloomberg estimate: Rs 3647.95 crore).
Ebitda fell 10% to Rs 1,684.87 crore (Bloomberg estimate: Rs 2608.5 crore).
Margin at 52% versus 57.7% (Bloomberg estimate: 71.5%).
Net profit rose 2% to Rs 876.76 crore (Bloomberg estimate: Rs 752.71 crore).
What Impacted Margins?
The company's Ebitda and margins contracted during the quarter mainly due to lower short-term sales and a Rs 61 crore two-part tarrif impact the company took in its hydro segment. This Ebitda decline was further impacted by flat revenue growth and a 21% increase in fuel costs.
Hydro true-up is the process of adjusting the difference between the production and supply costs of hydropower.
Operational Highlights
Net generation of JSW Energy rose 14% year on year to 9.8 billion units in Q2 FY25. This growth was driven by wind capacity additions and higher generation at thermal and hydroelectric plants, as per the company.
The renewable energy generation of the company also saw a 14% annual uptick to 5 billion units. This was on the back of a 37% annual increase in wind generation and a 5% uptick in hydro generation.
Thermal generation also saw a 14% year-on-year uptick at 4.8 billion units, driven by higher generation at Ratnagiri and Vijayanagar plants and contribution from Utkal Unit-1.
Current Portfolio
JSW Energy's current installed capacity stands at 7740 MW currently, out of which over 4000 MW is green capacity. The company also won 3.7 GW of renewable energy bids during the quarter, taking its total generation locked in capacity to 19.2 GW currently.
2.1 GW of this locked-in capacity is set to be commissioned in FY25 itself, as the company is confident of reaching its 10 GW installed capacity target by FY25-end.
JSW Energy's total locked-in energy storage capacity stands at 16.2 GWh.
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