JSW Energy Q4 Results: Profit Falls On Lower Margin, Higher Operational Cost

JSW Energy Ltd.’s profit for the fourth quarter of fiscal 2023 declined by more than half, on lower margin and higher operational cost.

Net profit for the fourth quarter ended March 2023 was down 67.86% to Rs 282.03 crore, according to its exchange filing. It compares with the Rs 171.2 crore consensus estimate of analysts tracked by Bloomberg.

JSW Energy Q4 FY23 Highlights (YoY)

• Revenue from operations rose 9.39% on higher sales to Rs 2,669.9 crore as compared with a forecast of Rs 2,267.9 crore. It increased on account of higher generation during the quarter.

• Operating profit or Ebitda was down 34.14% to Rs 745.3 crore on higher fuel cost.

• Operating margin was lower by half at 27.91% as against 46.37% a year ago.

• Fuel cost for the quarter rose to Rs 1,536.8 crore as compared with Rs 993.61 crore a year ago on account of higher coal prices.

• Net power generation in Q4 FY23 rose 16% YoY to 5.1 billion units, driven by long-term, merchant volume and renewable energy capacity addition.

Net long-term generation was up 7% YoY to 4.4 BUs, driven by higher generation at Ratnagiri (Unit-1) and RE capacity addition, the company said in its statement.

Net renewable generation was up 32% YoY, aided by commissioning of 225 MW Vijayanagar solar power plant, the company said.

Shares of JSW Energy rose 1.27% on Tuesday, as compared with a 0.03% increase in the benchmark Sensex.