JSW Energy Q2 Review - Beneficiary Of Merchant Sales: ICICI Securities
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ICICI Securities Report
JSW Energy Ltd.'s Q2 FY22 consolidated revenues, Ebitda, reported PAT came in at Rs 20.9 billion, Rs 9.3 billion, Rs 3.4 billion (+7.7%, +0.6%, -3.7% year-on-year) respectively.
Net generation was up 2% year-on-year mainly due to 4% increase in thermal generation, while hydro declined 1%.
JSWEL was able to benefit from higher exchange prices due to its low-cost thermal coal inventory and 13% untied capacity.
Short-term sales in Q2 FY22 were up 116% year-on-year at 236MUs.
Further, for the first 25 days of October 2021, JSWEL was the highest seller in the merchant power market, selling more volumes than in Q2FY22.
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