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JSW Energy reported 14 per cent fall in Q1 net profit to Rs 277 crore as against Rs 325 crore in the corresponding quarter of the previous year. The street had estimated Q1 profit at Rs 305 crore.
The company's total income declined by 17 per cent to Rs 2,107 crore against Rs 2,558 crore due to planned maintenance shutdown of its plants at Ratnagiri and Vijaynagar and weak demand. During the quarter the company achieved an average plant load factor of 75 per cent against 84%. The fuel cost reduced by 17% to Rs 974 crore due to fall in imported coal prices. However, these gains were offset by the lower generation and marginal decline in the realization which resulted in decline in EBIDTA to Rs 886 crore against Rs 948 crore, a six per cent fall. The merchant sales during the quarter were 1,990 million units, the sales under long term power purchase agreement were 2,490 million units. Shares of JSW Energy's stock was closed at Rs 98.90, up 1.80 per cent.
The company has commenced enabling works for the 240 MW projects in Himachal Pradesh and expects the award of EPC contracts to be completed by the second quarter of 2015-16. The cost incurred on the project upto June 30 is Rs 239 crore.
The company's total income declined by 17 per cent to Rs 2,107 crore against Rs 2,558 crore due to planned maintenance shutdown of its plants at Ratnagiri and Vijaynagar and weak demand. During the quarter the company achieved an average plant load factor of 75 per cent against 84%. The fuel cost reduced by 17% to Rs 974 crore due to fall in imported coal prices. However, these gains were offset by the lower generation and marginal decline in the realization which resulted in decline in EBIDTA to Rs 886 crore against Rs 948 crore, a six per cent fall. The merchant sales during the quarter were 1,990 million units, the sales under long term power purchase agreement were 2,490 million units. Shares of JSW Energy's stock was closed at Rs 98.90, up 1.80 per cent.
The company has commenced enabling works for the 240 MW projects in Himachal Pradesh and expects the award of EPC contracts to be completed by the second quarter of 2015-16. The cost incurred on the project upto June 30 is Rs 239 crore.
During the quarter, Barmer ignite Mining Company has despatched 1.44 MT of lignite to ffeedd company's power plant in Balmer.
The tendering process for selection off mine development and operator for Kapurdi and Jalipa lignite mines by EIL has commenced and the evaluation of tenders is under process. The project cost incurred till June 30 is Rs 1,837 crore.
The tendering process for selection off mine development and operator for Kapurdi and Jalipa lignite mines by EIL has commenced and the evaluation of tenders is under process. The project cost incurred till June 30 is Rs 1,837 crore.
