BackJSW Energy profit up 86% in March quarter
Increase in net profit attributed to higher power generation and lower fuel cost
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Mumbai: JSW Energy Ltd on Monday reported an 86% rise in consolidated net profit for the March quarter from the year-ago period, missing market expectations.
The Sajjan Jindal-promoted company said net profit during the quarter was ₹ 325 crore, against the median estimate of ₹ 356.9 crore in a Bloomberg poll of 13 analysts. The company had reported a net profit of ₹ 175 crore in the same period a year ago.
The company attributed the increase in net profit to higher power generation and lower fuel cost.
Total income from operations for the quarter was at ₹ 2,190 crore, up 6% year-on-year, against ₹ 2,324.3 crore predicted in the Bloomberg poll.
“During the current quarter, earnings before interest, taxes, depreciation and amortization (EBITDA) (before exceptional items) for the company is at ₹ 921 crore as against ₹ 746 crore in the corresponding quarter in the previous year. This increase is primarily due to increased generation and due to decline in fuel cost per unit partially offset by decline in realization per unit," the company said in its statement to BSE.
For the financial year 2014-15, the company reported a 79% year-on-year growth in its profit after tax seen at ₹ 1,350 crore. Net power generation was at 20,307 million units, 19% above 17061 million units generated in 2013-14.
Consolidated net debt for the company as on 31 March, 2015, was at ₹ 7,574 crore.
At 2.57pm, JSW Energy Ltd was trading at ₹ 107.95 on BSE, down 5.97% from its previous close while benchmark Sensex was down 0.86% at 27,203.09 points.
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