JSW Energy has moved higher by 4% at Rs 74.10 after reporting a better-than-expected consolidated net profit of Rs 311 crore for the third quarter ended December 31, 2012 (Q3) against analyst expectation of Rs 200 crore. The company had made loss of Rs 83 crore in a year ago quarter.
“Income from operations grew 34% at Rs 2,365 crore, while total expenditure increased by 8% at Rs 1,685 crore in Q3 over the previous quarter,” JSW Energy said in a statement.
Consolidated EBIDTA or operating profit was at Rs 867 crore, up 129% over corresponding of the previous year, it added.
“The operational performance during the quarter saw improvement on the back of improved operations of the Barmer unit while the Vijaynagar and Ratnagiri plants continued to maintain high availability,” the company said.
The stock opened at Rs 72.30 and hit a high of Rs 74.50 on NSE. A combined 7.68 million shares have changed hands on the counter so far on both the exchanges.
