JSW Energy rallied 3.18% to Rs 315.05 after the company reported a multi-fold jump in consolidated net profit of Rs 864.35 crore in Q4 FY22 as compared to a net profit of Rs 106.60 crore in Q4 FY21.
Net sales stood at Rs 2,440.68 crore in Q4 FY22 as against Rs 1,569.62 crore during the same period in the previous year, registering a growth of 55.5%.
Profit before tax stood at Rs 968.98 crore in the fourth quarter, recording a robust growth of 635.7% from Rs 131.71 crore in the same period last year. Total expenditure spiked 39.7% to Rs 1,308.95 during the period under review.
During the quarter, total revenue increased to Rs 2,655 crore from Rs 1,614 crore in the same period a year ago. As a result, EBITDA for the quarter was higher by 99% year-on-year at Rs 1,346 crore against Rs 677 crore in the corresponding period of previous year. EBITDA margin stood at 51% in Q4 FY22 as against 42% in Q4 FY21.
The increase is primarily attributable to one-time reversal of provision due to tariff true-up order of the Karcham Wangtoo plant. EBITDA after adjusting for the above mentioned one-off was at Rs 821 crore as against Rs 603 crore in the corresponding period of previous year.
Finance cost during the quarter decreased by 61% YoY to Rs 100 crore from Rs 257 crore in the corresponding quarter of previous year. After adjusting for write-back of interest provisions on regulatory liabilities after the Karcham Wangtoo true-up order, the underlying finance cost decreased by 7% on year to Rs 170 crore from Rs 183 crore, the company stated.
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On full year baisis, the company reported a 117.3% increase in net profit to Rs 1,728.62 crore on a 18% rise in net sales to Rs 8,167.15 crore in FY22 over FY21.
The consolidated net worth and consolidated net debt as on 31 March 2022 were at Rs 17,415 crore and Rs 6,963 crore respectively, resulting in a net debt to equity ratio of 0.40X and Net Debt/ TTM EBITDA of 1.68X .
Receivable days stood at 59 days at the end of FY22 as compared to 69 days at the end of FY21. Liquidity continued to grow strong with cash balances at Rs 1,929 crore as of 31 March 2022.
JSW Energy said it is "pursuing a growth strategy to expand from the current platform capacity of 7 GW to 10 GW by FY25, and 20 GW by FY30, with the entire capacity addition being driven by renewables. 2.25 GW of greenfield renewable energy capacity is currently under construction in full swing."
Meanwhile, the company's board recommended a dividend of Rs 2 per share for the financial year ended on 31 March 2022.
JSW Energy is one of the leading private sector power producers in India and part of the $13 billion JSW Group. JSW Energy has established its presence across the value chains of power sector with diversified assets power generation, and transmission.
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