JSW Energy Q3 profit falls 35% to `211 crore
Firm's total income also falls 9% to `2,151 crore, mainly due to muted demand from state govt-owned power distribution utilities
Mumbai: JSW Energy Ltd on Thursday reported a 35% decline in net profit to ₹ 211 crore for the fiscal third quarter and a 9% fall in total income to ₹ 2,151 crore, mainly due to muted demand from state government-owned power distribution utilities.
A Bloomberg poll of 21 analysts had predicted net profit at ₹ 265 crore.
The Sajjan Jindal-controlled company generated 4,034 million units of electricity in the December quarter, a decline of 15% from a year ago. Fuel costs increased 2% to ₹ 1,066 crore.
This is the second quarterly profit decline in a row for the company. In the September quarter, JSW Energy’s profit had fallen 36% to ₹ 163 crore.
Its share lost 1.02% to end at ₹ 43.80 on BSE on Thursday, while the Sensex closed down 0.72% at 20,498.25 points.
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