With its power plants recording highest quarterly generation, JSW Energy made a profit of Rs. 312 crore in October-December period against the loss of Rs. 83 crore a year ago. The company’s third quarter revenue rose 34% to Rs. 2,365 crore.
JSW’s stock was one of the top gainers on the Bombay Stock Exchange on Wednesday up 3% at Rs. 73.55 on better than expected results.
It said its plant load factor — the actual output of power plants — improved to 91.3% from 82.3% a year ago. The company’s fuel cost went down by 2%.
The net generation went up 20% at 4,770 million units.
JSW’s Vijayanagar, Ratnagiri and Barmer plants operated at 102%, 88% and 81% plant load factor respectively during the quarter.
About outlook, the company said: “The power sector has had mixed bag – while retail tariff revision has been initiated by most of the discoms; the critical issues plaguing the sectors in terms of fuel availability, modifications to standard bidding documents and procurement of long term power are yet to be resolved”.
“The imported coal prices are expected to remain under pressure till the global economic outlook improves,” it said.