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JSW Energy Ltd. reported consolidated revenue / Ebitda /profit after tax of Rs 23.9 billion / Rs 8.9 billion / Rs 4.7 billion (up 14.4% / down 4.3% / up 37.3% YoY) respectively, for Q2 FY23.
The main factors impacting performance during the quarter were:
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17.8% YoY decline in merchant sales volumes to 194 million units (from 866 MU in Q1 FY23) and maintenance shutdown at Ratnagiri plant resulting in 1.6% YoY decline in net generation to 6.7 billion units;
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operationalisation of 225 mega watt solar plant;
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higher offtake by captive consumers;
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higher dividend from JSW Steel Ltd. (Rs 1.2 billion in Q2 FY23 versus Rs 460 million in Q2 FY22).
JSW Energy has received approval from The National Company Law Tribunal for its resolution plan for Ind-Barath Utkal thermal power plant. Company is confident of reaching 10 giga watt/20 GW capacity by FY25/FY30.
In addition to grid-connected renewable energy, it is working to leverage its balance sheet strength by investing in large-scale hydro pumped storage projects, battery energy storage system, green hydrogen, and is also planning to venture into polysilicon manufacturing.
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