JSW Energy Q3 PAT at Rs124cr; to bring in first green hydrogen projects

20 Jan 2022 , 12:38 PM

JSW Energy Ltd. in its Q3 results announcements reported a surge of 162% in its net profit at Rs 324 crore, while revenues increased by 20% to Rs 1984 crores against Rs 1,659 crore for the corresponding quarter. The consolidated net profit of the company stood at Rs 124 crore for the previous corresponding period.

The company’s Managing Director and Chief Executive Officer, Prashant Jain informed that the company is planning to announce its green hydrogen project soon. The company witnessed outstanding performance for this quarter as short-term sales increased significantly.
The company’s receivables from power distribution companies were reduced by 20% YoY.

With this initiative, JSW targets to generate power up to 20 Gw by 2030, with about 85% of this capacity through renewable energy. The company is in the process, starting with receipt from approval from its Board to re-organize the company’s renewable and thermal business in November last year. The company will house all the upcoming businesses under JSW Energy Neo Ltd., which is a significant arm of JSW Energy.

The company’s share is performing dramatically today, groping investors’ expectations. The scrips opened at Rs 312.85 against the previous closing price of Rs 313.80. The shares have touched an intraday high and low of Rs 313.80 and Rs 304.70 respectively, so far in today’s trade.