JSW Energy posted an 87 per cent rise in net profit at ₹380 crore (₹203 crore) for the December quarter on the back of higher sales and better capacity utilisation.
Total income rose 11 per cent to ₹2,380 crore (₹2,151 crore).
During the quarter, net generation was 5,366 mu (million units) with an average plant load factor (PLF) of 86 per cent.
This was primarily due to stabilisation of operations of its Barmer unit and improved efficiencies in operating parameters.
Power units While there have been intermittent back downs during the non-peaks hours, better scheduling of power achieved a higher PLF at Vijayanagar and Ratnagiri units, the company said.
The Barmar unit generated 1,572 mu against 672 mu. Merchant sales accounted for 2,496 mu and that under long term power purchase agreement was 2,870 mu.
Fuel cost at ₹1,236 crore was higher by 16 per cent due to increased generation.
This was partly offset by a decline in the international prices and fairly stable exchange rate, the company said.
Raising funds JSW Energy said as of December 31, 2014, its consolidated net worth was ₹7,580 crore and net debt ₹8,803 crore with a debt:equity ratio of 1.16 times.
The Board has decided to seek shareholders’ nod to raise funds not exceeding ₹5,000 crore and for investing or acquiring securities of corporates up to ₹7,500 crore.
On Monday, the company scrip closed 2.68 per cent higher at ₹124.30 on the BSE.