JSW Energy Q4 net down 25% at Rs 206 cr; FY 11 net up 13%
JSW Energy said it has posted a 25 per cent fall in net profit at Rs 205.79 crore in the fourth quarter ended March 31 due to contraction in margins on account of increase in fuel prices.
By PTI | Updated:
MUMBAI: Private power utility JSW Energy today said it has posted a 25 per cent fall in net profit at Rs 205.79 crore in the fourth quarter ended March 31 due to contraction in margins on account of increase in fuel prices.
It has clocked a 13 per cent jump in consolidated net profit in FY 11 at Rs 841.82 crore as against Rs 745.49 crore in the same period last year.
Total income increased 81 per cent during April 2010- March 2011 period at Rs 4,294.37 crore as compared to Rs 2,355.09 crore in the same period a year ago.
"The rise in price of imported coal has increased the cost of power generation. To insulate the business from rising coal prices, we are engaged in enhancing the consumption of Indonesian coal, have tested out blending of different varieties of coal and embarked on negotiations for long-term contracts with certain major coal miners," JSW Energy Chief Financial Officer Pramod Menon told reporters here.
The power firm is evaluating various opportunities to secure fuel requirements by acquiring coal mines overseas, since the acquisition of CIC Energy Corp is yet to be concluded, he said.
The company had generated 3,012 million units of electricity during the January-March quarter and 9,016-million units in 2010-11.
"We have added 735 MW in the last fiscal which included two 300 MW units at Ratnagiri and 135 MW unit at Barmer in Rajasthan," he said.
The company's fourth unit at its project in Ratnagiri, coastal Maharashtra, is at an advanced stage of completion and will be commissioned soon, Menon added.
It has clocked a 13 per cent jump in consolidated net profit in FY 11 at Rs 841.82 crore as against Rs 745.49 crore in the same period last year.
Total income increased 81 per cent during April 2010- March 2011 period at Rs 4,294.37 crore as compared to Rs 2,355.09 crore in the same period a year ago.
"The rise in price of imported coal has increased the cost of power generation. To insulate the business from rising coal prices, we are engaged in enhancing the consumption of Indonesian coal, have tested out blending of different varieties of coal and embarked on negotiations for long-term contracts with certain major coal miners," JSW Energy Chief Financial Officer Pramod Menon told reporters here.
The power firm is evaluating various opportunities to secure fuel requirements by acquiring coal mines overseas, since the acquisition of CIC Energy Corp is yet to be concluded, he said.
The company had generated 3,012 million units of electricity during the January-March quarter and 9,016-million units in 2010-11.
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"We have added 735 MW in the last fiscal which included two 300 MW units at Ratnagiri and 135 MW unit at Barmer in Rajasthan," he said.
The company's fourth unit at its project in Ratnagiri, coastal Maharashtra, is at an advanced stage of completion and will be commissioned soon, Menon added.
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