JSW Energy Ltd. shares surged as much as 4.5% to Rs 504.70 in early trade on Thursday, Oct. 29, as the company reported a strong rise in consolidated net profit and revenue for the September quarter.
At 9:58 a.m., JSW Energy shares were trading at Rs 494.8 apiece on the NSE, up 2.44% from the previous close of Rs 483.
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Investors are tracking the significant rise in revenue and profit, while the sustainability of earnings growth, the trajectory of its Ebitda margins, and progress on its fundraising plans will determine the future course of the company.
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JSW Energy Q2 Results: Net Profit, Revenue Rise
JSW Energy reported a 49.8% year-on-year increase in consolidated net profit to Rs 1,056 crore in the second quarter of the current financial year, against Rs 705 crore in the corresponding quarter last year.
Revenue rose 23% to Rs 6,368 crore from Rs 5,177 crore a year earlier. The company's earnings before interest, tax, depreciation, and amortisation, or Ebitda, increased 20.7% year-on-year to Rs 3,617 crore from Rs 2,996 crore.
However, profitability margins moderated during the quarter with Ebitda margin coming down to 56.8%, compared with 57.9% in the year-ago period, indicating a decline of 110 basis points despite growth in revenue and Ebitda.
Also Read: JSW Energy Q2 Results: Net Profit Jumps By Nearly 50% Even As Margin Contracts
JSW Energy Plans Rs 11,000 Crore Fundraising
Apart from the quarterly performance, JSW Energy outlined fundraising plans totalling Rs 11,000 crore through two routes.
The company plans to raise Rs 5,000 crore through non-convertible debentures, while another Rs 6,000 crore is proposed to be raised through securities and other instruments.
JSW Energy Share Price Performance
The stock has surged 6.5% over the past week; however, it remained down 1.42% in the past month, and 7.6% over a year.
Currently, it is trading at a price-to-earnings multiple of 31.9 times, with a market cap of Rs 90,509.9 crore.
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