JSW Energy Q4 net profit rises by 16.5% to Rs 104.75 crore

JSW Energy reported a 16.5 per cent year-on-year rise in consolidated net profit for the January-March quarter of 2021 to Rs 104.75 crore on higher operating profit and operating margins during the period.

Operating margins for January-March quarter of 2021 were also higher by 826 basis points on year to 40.31 per cent on higher realisations during the quarter.

Long-term power sales in Q4FY21 were up at 3,463 million units compared with 3,369 million units a year ago due to higher off-take from the Barmer plant. However, the short terms sales or merchant sales were impacted by Covid-19 resulting in a drop of 54 per cent on year at 332 million units as against 736 million units a year ago.

Revenue from operations in Q4FY21 were down 12.51 per cent on year to Rs 1,569.62 crore due to long term job work opted by the customers. Under job work, the customers provide the fuel or coal while the company produces the power for them. The process has also resulted in lower fuel cost for the company at Rs 701 crore in Q4FY21 as against Rs 996.32 crore a year ago.

Although total generation in Q4FY21 fell 7.52 per cent on year to 3,796 million units, Vijayanagar and Barmer units did well to register higher production due to higher offtake of power. However, Ratnagiri thermal power plant, and the Himachal Pradesh based hydropower projects production fell during the quarter due to lower plant load factor (PLF).

The Vijayanagar plant in Karnataka produced 680 million units against 593 million units a year ago at a plant load factor (PLF) of 39.8 per cent against 34.3 per cent a year ago while Ratnagiri plant in Maharashtra produced 1,172 million units against 1,705 million units a year ago.

The PLF at Ratnagiri was 49.7 per cent vs 71 per cent a year ago, while the Barmer plant produced 1,526 million units against 1,346 million units a year ago. The PLF for Barmer plant stood higher at 71.9 per cent against 63.2 per cent a year ago.

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