JSW Energy March quarter profit rises 29%, declares Rs 2 per share dividend – EQ
In Short : JSW Energy reported a 29% increase in profit for the March quarter and declared a dividend of Rs 2 per share. This reflects strong financial performance and a commitment to delivering value to shareholders amidst the dynamic energy market landscape.
In Detail : The company said, total net generation for the quarter was up 26 per cent to 6.4 billion units and net debt as on March, was at Rs 26,636 crore
Private power producer JSW Energy on Tuesday reported a 29 per cent rise in profit after tax (PAT) attributable to the owners of the company for the quarter ended March 31, 2024 owing to lower tax expenses.
For the quarter under review, JSW Energy reported a consolidated PAT of Rs 351.34 crore up from Rs 272.05 crore a year ago. Revenue from operations, the company said, was at Rs 2,755.87 crore, up three per cent from a year ago.
Ebitda for the quarter, the company said, was up 47 per cent to Rs 1292 crore, driven by incremental contribution from renewable portfolio and strong performance by thermal assets.
Ebitda is earnings before interest, taxation, depreciation and ammortisation.
Sequentially, the company’s revenue from operations was up 8 per cent and profit rose 52 per cent.
The company said, total net generation for the quarter was up 26 per cent to 6.4 billion units and net debt as on March, was at Rs 26,636 crore.
JSW Energy’s board on Tuesday also recommended a dividend of Rs 2 per equity share for FY24, subject to the approval of shareholders at the next annual general meeting.
In its outlook for the sector, the company said, over the medium term, the power sector outlook is healthy, as rapid urbanisation, government led capex and a strong investment cycle are expected to boost overall power demand.
The press statement further added that with base load capacity increase (including round-the-clock with storage) lagging the demand growth, supply increase is expected to lag demand growth over the medium term, boding for tight demand-supply conditions.
In a separate announcement, JSW Energy also said the board approved raising of funds not exceeding Rs 10,000 crore in one or more tranches, through the issuance of eligible securities by way of private offerings and/or on a preferential allotment basis and/or a qualified institutions placement or any other method or combination.
