JSW Energy net rises three-fold to Rs 147 cr on strong power demand

Firm cites MTM loss on JSW Steel holding as reason for a total comprehensive loss of Rs 328.55 cr

Private power producer JSW Energy reported a multi-fold rise in its consolidated net profit at Rs 147.08 crore owing to better operational performance. However, the company’s comprehensive income for the period took a hit due to mark to market losses related to group company holdings.

The company has also revised its plans for electric vehicle manufacturing, where it will now focus on electric passenger vehicles. The company added plans for electric commercial vehicles and battery manufacturing will not be pursued as of now.

For the December 2018 quarter, JSW Energy reported a consolidated net profit of Rs 147.08 crore, significantly higher from