JSW Energy’s consolidated net profit for the July-September quarter of the current fiscal stood at around Rs 316 crores, resulting in a 6.3 per cent increase as compared to Rs 297 crores net profit that the company posted in the same period previous fiscal.
JSW Energy consolidated revenue from operations increased by 18.6 per cent to Rs 2,430.76 crores during the said quarter from Rs 2049.04 crores in the corresponding quarter of the fiscal year 2017-18.
According to JSW Energy, the average price of Indian basket of crude inclined from $68 per barrel since April 2018 to $78 per barrel in September 2018. The company stated, “The fuel cost for the quarter increased by 42 per cent YoY to Rs 1,329 crore, primarily due to an increase in international prices of coal further exacerbated by the weakening of the rupee.”
JSW stated that long-term PPA (power purchase agreement) proportion improved from 75 per cent to 80.4 per cent on Q.o.Q basis after securing additional 230 megawatts (MW) and 6.5 MW PPAs within the JSW Group at Vijayanagar and Ratnagiri plants respectively.
JSW also added that the power sector outlook over next 3 to 5 years has improved as power demand grows steadily considering the various measures undertaken by the government such as UDAY Scheme, “Power for All” by 2019 initiative, SHAKTI scheme etc.