On Thursday, JSW Energy posted a 179% rise in net profit to Rs 560 crore for the quarter ended June 30, 2022 (first quarter) on higher revenue.

Net profit for the same period last year was Rs 201 crore. In the quarter, revenue rose 68% year-on-year to Rs 3,115 crore from Rs 1,860 crore last year.

The increase was mainly attributable to higher short-term sales contribution, increased solar capacity in Vijayanagar and the upgrade of the Karcham Wangtoo hydropower station in Himachal Pradesh to 45 MW. Underlying finance costs for the quarter were down 2.5% compared to last year’s Rs 193 crore.