JSW Energy share price gained over 3% intra day on Thursday after the firm reported a 28-fold jump in its Q4 consolidated net profit. Share price of JSW Energy rose 3.19% to Rs 42 compared to the previous close of Rs 40.70 on BSE. JSW Energy share stands higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages. The midcap stock has lost 39% in one year and declined 42% since the beginning of this year.
Global brokerage firm CLSA maintained a buy call on the stock but cut the target price to Rs 75 from Rs 85.
CLSA has lowered EPS estimates by 5 percent due to COVID-led demand destruction and lower asset values.
However, total income fell to Rs 1,847.65 crore in Q4 quarter compared to Rs 2,018.16 crore a year ago. For FY20, the firm reported consolidated net profit of Rs 1,081.18 crore against Rs 684.49 crore in 2018-19.
Total income in FY20 came at Rs 8,559.69 crore compared to 9,505.56 crore in 2018-19. The board declared dividend of Re one per equity share of Rs 10 (10 per cent), on the paid-up equity capital of the company for the year ended March 31, 2020.
By Aseem Thapliyal