BackJSW Energy June quarter net profit advances
Revenue rose 12.81% to `2,431.15 crore from `2,155.16 crore
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Mumbai:
JSW Energy Ltd’s net profit rose 68 times to ₹ 214.26 crore in the three months ended 30 June from ₹ 3.41 crore a year earlier as the power producer benefited from increased generation, improved price realization and lower fuel costs, it said Friday.
Revenue rose 12.8% to ₹ 2,431.15 crore from ₹ 2,155.16 crore. Fuel costs fell to ₹ 1,062.26 crore from ₹ 1,154.71 crore.
The company achieved a net generation of 5,097 million units in the first quarter. A falling rupee led to an exceptional loss for the company to the tune of ₹ 187 crore, the company said.
Merchant sales for the year amounted to 2,276 million units. The company however expects merchant prices to be under pressure with the commissioning of additional generation capacities and a slowdown in demand growth, it said in a statement.
“JSW Energy had a net debt of ₹ 1,0625 crore as of 30 June, out of which around ₹ 6,000 crore was debt related to various projects," said Pramod Menon, director of finance.
The stock ended 0.90% down at ₹ 44 on Friday while the Sensex closed 0.29% lower at 19,748.19 points.
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