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JSW Energy has reported that its net profit in the December quarter was up 28 per cent to ₹231 crore against ₹180 crore logged in the same period last year on the back of higher power generation.
Income was up 13 per cent at ₹2,661 crore (₹2,350 crore). Overall cost increased to ₹2,353 crore (₹2,132 crore).
EBITDA increased 69 per cent to ₹1,229 crore, while receivable (excluding acquired RE portfolio) on DSO (days sales outstanding) basis stood at 69 days, reflecting a healthy collection trend, said the company.
Net generation
Overall net generation was up 43 per cent to 6.1 billion units (BU), driven by higher thermal generation and contribution from acquired and greenfield RE capacity additions.
Total renewable generation was up 71 per cent to 1.4 BUs while total thermal generation was up by 37 per cent at 4.7 Bus. Net long-term generation increased 25 per cent, driven by higher generation at Ratnagiri and RE capacity additions.
Higher profitability was driven by robust performance at thermal power plants. The consolidated net worth and net debt were ₹20,976 crore and ₹26,286 crore respectively, resulting in a net debt to equity ratio of 1.3 times. Net debt to EBITDA was 4.6 times.
Power demand was up 10 per cent at 382 BU with all-India peak power demand at 223 GW in October. Overall power generation increased 9 per cent to 410 BUs.
Demand and supply
On the supply side, installed capacity stood at 428 GW as of December-end. In Q3 FY24, net installed capacity increased by 2.9 GW, due to the addition of 2.1 GW of renewable capacity and 0.7 GW of thermal capacity.
Over the medium term, the company expects power demand to remain healthy on rapid urbanization, government led capex and a strong investment cycle.
However, it said with base load capacity increase (including RTC with storage) lagging demand growth, supply increase is expected to lag demand growth over the medium term, leading to a tight demand–supply conditions, it said.
The company has appointed Ashok Ramachandran, Chief Operating Officer, as a Whole-time Director till January 22, 2029.
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