JSW Energy, the power generation business of the Sajjan Jindal-promoted JSW Group, reported net profit of ₹5.79 crore for the March 2019 quarter, against a loss of ₹480.05 crore in the same period last year. Revenue from operations rose 8.4% over the same period to ₹1924.58 crore with consolidated plant load factors (PLF) at 54%, against 51.9% in the year-ago period even as short term power sales fell.
Power generation rose at the Ratnagiri plant to 1793 million units (MUs) as the plant operated at a deemed PLFof 80%. However, generation at Vijayanagar (649 MUs), Barmer (1377 MUs) and Himachal Pradesh (397 MUs) fell or stayed flat. Short term sales during the quarter were lower at 567 MUs as compared to 848 MUs in Q4FY18 primarily due to lower short term sales at Vijayanagar. EBITDA for the quarter was ₹570 crore as against ₹525 crore in the corresponding quarter of previous year, an increase of 9%.
For the full year, net profit was ₹684.49 crore, against ₹84.91 crore in FY18.
The board has also recommended a dividend of Re 1 equity share subject to approval of the shareholders.