JSW Energy reports 87% rise in net profit

JSW Energy, an arm of JSW Group, on Monday reported a 87 per cent rise in consolidated net profit at Rs 380.19 crore for the quarter ended December 2014, on improved operational performance and higher generation.

The company had posted a net profit of Rs 203.27 crore in the corresponding quarter last fiscal. Total income during the period under review grew 10.7 per cent to Rs 2,380.83 crore as against Rs 2,150.56 crore in the year-ago period.

The impressive operational performance is primarily due to stabilisation of operations of Barmer unit and correspondingly improved efficiencies in operating parameters, the company said in a release.

During the quarter, JSW Energy achieved a net generation of 5,366 million units with the average deemed plant load factor (PLF) of 86 per cent.

While there have been intermittent back downs during the non-peaks hours, the company was able to schedule power and achieve higher PLF for its Vijayanagar and Ratnagiri units compared to the corresponding quarter of previous year, it said.

While the Vijayanagar plant achieved average PLF of 100 per cent, Ratnagiri operated at PLF of 84 per cent and Barmer at 77 per cent.

During the quarter, the merchant sales were 2,496 million units, while the sales under long term PPA stood at 2,870 million units resulting in a mix of 53 per cent long term and 47 per cent merchant.