PremiumJSW Energy Ltd has posted a net profit of ₹107 crore compared to a net profit of ₹108 crore earned in the corresponding quarter of the previous year, the company said on Friday.
During the quarter, JSW Steel clocked a total revenue of ₹1,614 crore against ₹1,848 crore in the corresponding quarter of the previous year, primarily due to reduction attributable to the impact of job work at the standalone entity, the company said.
The fuel cost for the quarter decreased by 30% year-on-year to ₹701 crore.
Earnings before interest, tax, depreciation, and amortization (Ebitda) for the quarter rose 8% year-on-year to ₹677 crore from ₹629 crore in the year-ago period.
The total comprehensive income of the company for the quarter stood at ₹609 crore against a loss of ₹835 crore in the corresponding period of the previous year.
The consolidated net worth and consolidated net debt as on 31 March 2021 were at ₹14,507 crore and ₹6,206 crore, respectively, resulting in a net debt to equity ratio of 0.43x. Cash balances stood at ₹2,137 crore.
"JSW Energy is pursuing a growth strategy to expand from the current capacity of 4.6 GW to 10 GW by FY25, and 20 GW by FY30, with the entire capacity addition being via renewables. 2.5 GW of renewable energy capacity is currently under construction in full swing," the company said.
JSW Energy’s current portfolio comprises 30% renewable energy capacity. This is expected to pivot to 70% renewable energy by FY25 and 85% renewable energy by FY30.
India’s power demand increased by 8.4% year-on-year in Q4FY21, due to an uptick in economic activity and a low base effect. In Mar 2020, demand had declined by 8.4% year-on-year when covid-19 led restrictions were first imposed in the country. Demand growth was strong across North, West, and East regions on a year-on-year basis.
The recovery in power demand is continuing in Q1FY22, with a growth of 21% y-o-y during the Apr-May 2021 period (aided by a low base effect). Despite a challenging economic scenario in FY21, overall power demand saw only a 1% decline year-on-yeaand the all-India peak power demand touched a record high of 190 GW, indicating a spurt in economic activity.
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