JSW Energy Q3 Review - Capex Cycle Commences: ICICI Securities  

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ICICI Securities Report

JSW Energy Ltd.’s Q3 FY21 consolidated revenue/Ebitda/reported a profit after tax came in at Rs 16.1 billion/Rs 6 billion/Rs 1.2 billion, lower 23.4%/5.3%/69% YoY (adjusted profit after tax lower by 4% YoY), respectively.

Long-term generation improved 6% YoY, mainly boosted by Barmer. Earnings were impacted due to -

1. Lower merchant volumes (mainly Ratnagiri) and prices, partially offset by lower fuel cost,
2. lower other income, and
3. lower interest cost.

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