JSW Energy Q3 net dips 45% to Rs 180 cr, revenue surges 18% to Rs 2,350 cr

JSW Energy on Friday reported a 45 per cent decline in its consolidated net profit to Rs 180 crore for the December 2022 quarter.

"(consolidated) Profit After Tax (PAT or net profit) stood at Rs 180 crore (in the quarter ended on December 31, 2022), which is lower YoY (year-on-year) compared to a PAT of Rs 324 crore in the corresponding period of the previous year," a company statement said.

The company stated that during the quarter (October-December 2022), its total revenue increased by 18 per cent to Rs 2,350 crore from Rs 1,984 crore a year ago, due to higher realisation (as higher fuel costs are passed through in nature for LT PPAs (long term power purchase agreements).

The EBITDA for the quarter was 18 per cent lower at Rs 727 crore vis-a-vis Rs 882 crore in the corresponding period of the previous year.

It explained that the decrease is primarily due to lower short-term sales YoY, partly offset by the contribution from Vijayanagar Solar and higher other income in the ...