JSW Energy Ltd. reported an 84% yearly surge in net profit in the first quarter of fiscal 2025, beating estimates, driven by higher profitability in the thermal business and incremental contribution from renewable energy capacity additions.
The JSW Group company reported a net profit of Rs 534 crore in the April-June quarter, compared to a Bloomberg estimate of Rs 373.7 crore. On the other hand, the topline declined 1.7% to Rs 2,879 crore.
JSW Energy Q1FY25 (Consolidated, YoY)
Revenue down 1.7% to Rs 2,879 crore versus Rs 2,928 crore (Bloomberg estimate: Rs 3,438 crore)
Ebitda up 25% to Rs 1,418 crore versus Rs 1,132 crore (Bloomberg estimate: Rs 1,454.5 crore)
Ebitda margin at 49.2% versus 38.7% (Bloomberg estimate: 4.23%)
Net profit up 84% to Rs 534 crore versus Rs 290 crore (Bloomberg estimate: Rs 373.7 crore)
JSW Energy's net generation capacity increased 18% to 7.9 billion units, driven by higher hydro and thermal generation and organic wind capacity additions.
Total renewable energy generation increased 44% to 3.2 billion units driven by 61% year-on-year increase in hydro generation. Total thermal generation increased 4% to 4.6 billion units.
The total registered generation capacity of JSW gigawatt energy stood at 15.5 GW as of June. Capacity addition of 291 MW were done during the quarter. The company's project pipeline stands at 5650 MW, with 2700 MW of capacity in the solar segment.
Share of JSW Energy closed 1.51% lower on Friday at Rs 702 per share before earnings were announced. This compares to the 1.09% decline in the benchmark NSE Nifty 50.
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