Revenue expenses6/29/2023 ![]() ![]() Shares of JSW Energy closed up 1.22% ahead of results on Tuesday. The board of directors of the company also declared a dividend of 2 rupees per share held and approved the reappointment of Sajjan Jindal as its chairman and managing director. The company said that overall net power generation in the quarter rose 16% year-on-year at 5.1 billion units (BU), driven by renewable energy capacity addition and strong long-term and merchant volumes. Revenue from its mainstay thermal segment rose about 40% compared to the March quarter last year, while its renewables wing posted a 64% fall. JSW generates power through both coal and renewable sources like hydro and solar. Expense reductions include personnel costs, production spend, lease, and. The Company also announced it has begun implementing a comprehensive cost cutting plan, aimed at streamlining operations and continuing the path to profitability. In March, the Indian government directed power generators, especially coal-based ones, to expand output to meet the peak demand. Q1 2023 revenue increased 885 to 14.2 million, compared to 1.4 million for the same period last year. Power demand in India spiked this year with the early onset of summer.ĭemand in the first two months of 2023 jumped 10% year-on-year, while power generation grew at the fastest pace in 33 years, a Reuters analysis of government data showed. The jump in costs outweighed the 9% increase in consolidated revenue from operations to 26.70 billion rupees. Total expenses were up 45% at 24.49 billion rupees. On an adjusted basis, profit fell about 27% as fuel costs surged 55% to 15.37 billion rupees. ![]() The company said the number was not comparable to the 8.64 billion rupees profit it reported a year earlier which included a one-time gain of 4.92 billion rupees from a regulatory adjustment. BENGALURU, May 23 (Reuters) - Indian power producer JSW Energy Ltd (JSWE.NS) reported a slump in fourth-quarter profit on Tuesday, as a surge in fuel costs offset higher electricity generation amid strong demand.Ĭonsolidated net profit was 2.72 billion rupees ($33.26 million) in the quarter ended March. ![]()
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