The consolidated net profit of jsw energy share for the quarter ending in December 2023 increased by ₹231 crore, or more than 28%, thanks in part to Tuesday’s increase in revenues.
jsw energy share reported on Tuesday that its consolidated net profit for the quarter ended December 2023 climbed by over 28% to ₹231 crores, mostly as a result of higher revenues.
The company stated that its post-tax profit for the October–December 2023 quarter increased by 28% year over year to ₹231 crores, compared to ₹180 crores in the corresponding period of the previous year.
Compared to the ₹2,350 crores in the third quarter of the 2023 fiscal year, the overall revenue for the quarter climbed by 13% annually to ₹2,661 crores. Driven by the market’s large-scale, enthusiastic operation, strong thermal performance and contributions from the renewable portfolio, this growth was achieved.
With a consolidated net worth and net debt of ₹20,976 crores and ₹26,286 crores, respectively, as of December 31, 2023, the debt-to-equity ratio was 1.3X.
According to the statement, the company had a cash balance of ₹2,867 crores as of December 31, 2023, indicating strong liquidity. Its balance sheet is among the strongest in this industry, which gives it the chance to take advantage of growth opportunities that are value-driven.
It produced more electricity in the third quarter—6,128 million units (MU)—than it did in the same period last year—thanks to contributions from both the expanded and new Renewable Energy (RE) capacity as well as higher thermal production.
Currently under construction are multiple power projects totaling 2.6 gigawatts, with the aim of reaching a 20 gigawatt total electricity production capacity by 2030. During its Tuesday meeting, the board also named Ashok Ramachandran as its new CEO, effective January 23, 2024, to January 22, 2029. Ramachandran was already the Chief Operating Officer (COO).
In addition to his full-time director position, Ramachandran has been designated as the company’s managing director. Prior to this, on October 20, 2023, Ramachandran was named Chief Operating Officer.
In the third quarter of December 2023, jsw energy share reported a ₹231 crore increase in consolidated net profit, an increase of more than 28%. A robust thermal performance coupled with contributions from the renewable portfolio helped the overall revenue during the quarter rise by 13% year over year to ₹2,661 crores from ₹2,350 crores in Q3FY23.
With a net debt-to-equity ratio of 1.3X as of December 31, 2023, the company’s consolidated net worth and net debt were ₹20,976 crores and ₹26,286 crores, respectively. The company is reported to have one of the strongest balance sheets in this industry as of December 31, 2023, with cash balances of ₹2,867 crores. This indicates that the company has strong liquidity and opportunities for value-driven growth.
Leading by Sajjan Jindal, jsw energy share saw a 28% year-over-year increase in net profit for the final quarter of 2023 (Q3 FY24), fueled by increased output and enhanced operational efficiency.
The business’s net profit for the third quarter of FY24 was ₹231 crores, representing a year-over-year increase of 28.8%. This growth was ascribed to revenue of ₹2,542.80 crores, which increased by 13% annually, during the same period. After accounting for depreciation, amortization, interest, and taxes, the company reported an EBITDA of ₹1,229 crores, indicating a 69% year-over-year increase.
According to the company, strong thermal performance—largely fueled by an enthusiastic market operation—and contributions from the growing renewable portfolio drove the growth in both revenue and EBITDA. The jsw energy share reported higher short-term electricity sales during the quarter, which was consistent with the nation’s increasing and healthy domestic power demand.
Four analysts had predicted that jsw energy share would generate ₹2,984 crores in revenue and ₹371 crores in adjusted net income for the period, according to a Bloomberg poll. This meant that the company missed Street estimates. According to the company, as a result, jsw energy share net profit decreased by 72.8% for this quarter.
The corporation ascribed the 43% rise in net electricity generation to 6.1 billion units on an annual basis to improved thermal production as well as contributions from newly acquired and developed renewable energy capacity.
