This Article is From Oct 31, 2014

JSW Energy Q2 Profit Rises 96 Per Cent to Rs 318.63 Crore

New Delhi: JSW Energy on Friday reported a 96 per cent jump in net profit at Rs 318.63 crore for the second quarter that ended on September 30, 2014-15, mainly due to increased power generation at its plants.

The company had posted a net profit of Rs 162.59 crore for the corresponding quarter last year.

Total income during the quarter under review increased to Rs 2,372.28 crore as against Rs 2,079.56 crore registered in the corresponding quarter a year ago.

"During the quarter, the company achieved net generation of 5,236 million units with the average deemed PLF (plant load factor) of 87 per cent. The PLF has improved primarily due to pick up in demand in the quarter," JSW Energy said in a statement.

The merchant (power) sales in Q2 were at 1,947 million units, while the sales under long-term power purchase agreement (PPA) were at 3,289 MUs.

The fuel cost for the quarter was Rs 1,224 crore, 19 per cent higher as compared to a year ago primarily due to increased generation which was partly offset by lower coal prices.

The company said its 240 MW Kuther hydro-electric power project in Himachal Pradesh and the expansion of its Barmer Lignite Mining Company were on track.

JSW Energy has diversified interests in power, mining, industrial gases, port facilities, aluminium, cement and information technology.

It has an operational capacity of 3,140 MW.

Shares in JSW Energy, on Friday, remained unchanged from their previous close at Rs 80.25 on the BSE.