JSW Energy Q4 Results: Profit Up 22.42% On Robust Operating Numbers
JSW Energy's Q4 profit advanced to Rs 345.27 crore in the quarter-ended March, as compared with Rs 282 crore over the same period last year.
JSW Energy Ltd.’s consolidated net profit rose 22.4% in the fourth quarter of fiscal 2024 on the back of strong operating numbers.
The Sajjan Jindal-led power producer's profit advanced to Rs 345.27 crore in the quarter-ended March, as compared with Rs 282 crore over the same period last year, according to its exchange filing issued on Tuesday.
JSW Energy Q4 FY24 Highlights (Consolidated, YoY)
Revenue rose 3.2% to Rs 2,755.9 crore versus Rs 2,669.9 crore.
Ebitda rose 58.12% to Rs 1,178.5 crore versus Rs 745.3 crore.
Margin up at 42.8% versus 27.9%.
Net profit up 22.42% to Rs 345.3 crore versus Rs 282.1 crore.
At March-end, the net debt to equity was at 1.3 times, while net debt to Ebitda was at 4.5 times, and net debt to Ebitda excluding the current work in progress was at 2.9 times.
The cash and cash equivalents stood at Rs 4,691 crore.
Operational Highlights
All thermal power plants—Vijayanagar, Ind Barath, Ratnagiri and Barmer—achieved a plant load factor of 59%, 63%, 83% and 89%, respectively. Hydropower had a plant load factor of 14%, the same as a year ago. Solar plants had a capacity utilisation factor of 29%, which was unchanged from the previous year; and the wind plants had a CUF of 25%, as compared with 30% a year ago.
Power Generation Increased In Q4
Total net electricity generation for Q4 FY24 increased 26% YoY to 6.4 billion units, driven by contribution from acquired and greenfield renewable energy capacity additions and higher thermal generation, the company said.
Total RE generation during the quarter increased by 124% YoY to 1.3 BUs. The net long-term power purchase agreement generation grew by 21% YoY during the quarter, driven by higher generation at Ratnagiri and RE capacity additions, it said.
For FY24, net generation increased by 27% YoY to 27.9 BUs as the total renewable energy generation rose by 54% YoY to 9.3 BUs. The long-term PPA generation during the year increased 22% YoY.
Plans To Raise Rs 10,000 Crore In Equity
The board has approved raising up to Rs 10,000 crore in equity in FY25, in one or more tranches, and will take shareholders' approval in the annual general meeting to be held on June 28.
The company aims to raise the funds through private or preferential placement of securities or through a qualified institutional placement, it said.
Shares of JSW Energy fell 5.5% on the BSE, as compared with a 0.5% drop in the benchmark Sensex.
