JSW Energy Q2FY23 PAT up 37.3% yoy at Rs465.7 crore on greater shift to renewables in portfolio

29 Oct 2022 , 10:27 AM

JSW Energy Ltd reported 14.4% growth in total revenues for the September 2022 quarter on consolidated basis at Rs2,387cr.

Revenue fell by -21.11% in sequential terms. The net renewable generation was up 3% yoy on contribution from solar plant at Vijayanagar.

The net long term generation was marginally lower at 6.5 billion units in the quarter. This was largely on account of the maintenance at the Ratnagiri plant which offset the higher offtake by captive customers.

Overall net generation was also lower 2% on weak merchant demand.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 37.3% at Rs466 crore and it was down -16.91% on sequential basis.

EBITDA was up 2% at Rs1,098 crore while the net debt to EBITDA stood at a comfortable 1.77 times. Deemed PLF in the quarter stood at 83% while long term PLF stood at 72%.

Finance cost was flat in the quarter, but was lower in the first half of FY23 on a comparable yoy basis. Net profit margins at 19.5% in Q2FY23 is higher compared to 16.25% in Q1FY22 and also higher compared to 18.52% in Q1FY23.

Financial highlights for Sep-22 compared yoy and sequentially

	JSW Energy
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 2,387.48	₹ 2,087.46	14.37%	₹ 3,026.27	-21.11%
Net Profit (Rs cr)	₹ 465.67	₹ 339.24	37.27%	₹ 560.43	-16.91%
Diluted EPS (Rs)	₹ 2.84	₹ 2.07		₹ 3.40
Net Margins	19.50%	16.25%		18.52%