JSW Energy Ltd Q3 PAT up 162% at Rs323.93cr on stable fuel costs and higher tax credits

20 Jan 2022 , 08:56 AM

JSW Energy Ltd reported 17.69% growth in total revenues for the Dec-21 quarter on consolidated basis at Rs1,893.54cr. The revenues were lower by -9.29% on sequential basis.

For the third quarter, the hydro generation was up by 13% yoy but the overall generation was lower by 3% yoy due to a sharp fall in thermal generation. This was largely on account of maintenance activity at the Ratnagiri Plant.

JSW Energy saw net receivables fall by 20% at a time where receivables were spiking in the industry. Green energy initiatives will be housed under JSW New Energy Ltd, a 100% subsidiary of JSW Energy Ltd.

The consolidated Profit after tax (PAT) for the Dec-20 quarter was up 162.23% at Rs323.93cr on the back of stable fuel costs and higher tax credits in the quarter.

The EBITDA at Rs.992cr in the third quarter, was a record quarterly profit reported by JSW Energy. Its net debt to equity stood at a mere 0.37X while the net debt to EBITDA was at a healthy 1.74 times, one of the lowest in the power segments.

PAT margins were sharply higher from 7.68% in Dec-20 quarter to 17.11% in the Dec-21 quarter. NPM was also up sequentially.

Financial highlights for Dec-21 compared yoy and sequentially

	JSW Energy Ltd
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 1,893.54	₹ 1,608.86	17.69%	₹ 2,087.46	-9.29%
Net Profit (Rs cr)	₹ 323.93	₹ 123.53	162.23%	₹ 339.24	-4.51%
Diluted EPS (Rs)	₹ 1.94	₹ 0.75		₹ 2.07
Net Margins	17.11%	7.68%		16.25%