Private sector energy generator JSW Energy reported a more than two-fold jump in consolidated net profit for the quarter ended December 2021 at ₹320.82 crore following an increase in short term sales and realisations.
The Mumbai-based company had reported a net profit of ₹142.07 crore in the corresponding quarter last year.
The company’s total consolidated income increased to ₹1,984.34 crore, a growth of 19.59 percent compared to ₹1,659.26 crore clocked in the same quarter last year.
Drop in power generation
The net power generation at various locations dropped slightly to 4,496 million units during the quarter as against 4,612 million units generated in the same quarter last year. The fall was due to maintenance activities at its Ratnagiri plant. The company states that this was offset by higher sales at Vijayanagar and hydro plants.
At the stand-alone level, the company clocked a net profit of ₹191.21 crore, which was a more than five-fold growth in compared to the ₹35.12 crore net profit clocked in the same quarter last year.
Total income during the reporting quarter grew to ₹1,026.06 crore, an increase of 46.54 percent compared to ₹700.14 crore posted in the same quarter last year.
JSW Energy’s current operational portfolio comprises 30 per cent renewable energy capacity. This is expected to pivot to around 70 per cent renewable energy by FY25 and around 85 per cent by FY30.