JSW Energy Q4 Results: Net profit plunges 68% YoY at Rs 282.03 crore on higher operational cost

JSW Energy Ltd.’s net profit for the fourth quarter of fiscal 2023 declined 68% on lower margin and higher operational cost.

Net profit for the fourth quarter ended March 2023 came in at Rs 282.03 crore against Rs 877 crore in the corresponding quarter a year ago.
For FY23, the net profit was down 15% to Rs 1480 crore. Revenue from operations rose 9% on higher sales to Rs 2,669.9 crore. FY23 revenue was up 26% to Rs 10,331 crore.


The company's board has recommended a dividend of Rs 2 per equity share and also approved the re-appointment and remuneration of Sajjan Jindal as the chairman and managing director of the company for a period of five years with effect from 1 January, 2024, subject to the approval of the members of the company.

Earlier this month, JSW Energy has signed a power purchase agreement with Solar Energy Corporation of India Ltd (SECI) for wind projects totalling 300 MW.

The PPA is signed for supply of power for a period of 25 years with a tariff of Rs 2.94 per kilowatt (KWh).

"JSW Renew Energy Three, a wholly-owned step-down subsidiary of JSW Energy, has signed a PPA with SECI for 300 MW ISTS-connected wind power projects awarded under SECI Tranche-XII," the company said.

The projects are located in Maharashtra and expected to be commissioned in the next 24 months, the company said.

The company has set a target to reach 20 GW capacity by 2030 and 10 GW by 2025. With a total locked-in capacity of 9.9 GW, JSW Energy is well placed to achieve its targets well ahead of time. In addition, the company has made a foray into energy storage space and has currently locked in 3.4 GWh of energy storage capacity by means of battery energy storage system and hydro pumped storage project.

Shares of JSW Energy ended at Rs 248.05, up 1.27% on BSE Tuesday. Benchmark Sensex ended 0.03% higher