JSW Energy revenue rises 13% on-year in Q3; shares fall 4%

Power producer JSW Energy shares fell 3.7 percent in early trade on January 24 as the company reported its quarterly earrings.

The JSW Group company reported a 24.36 percent year-on-year increase in consolidated net profit for the third quarter owing to a robust contribution from its thermal portfolio and merchant sales.

Revenue rose 13.3 percent on-year to Rs 2,661.41 crore in the quarter from Rs 2,349.79 crore a year earlier.

As of 9.20 am, shares of JSW Energy were trading at Rs 475.95 on the NSE, lower by 1.85 percent compared to the previous session’s closing price. Shares of JSW Energy closed at Rs 484.90 apiece on January 23.

In December 2023, the firm’s subsidiary JSW Renew Energy Limited started phase-wise commissioning of an 810 MW ISTS-connected wind power project.

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The project, according to the filing, has a power purchase agreement with Solar Energy Corporation Of India (SECI) for 25 years. Post this, the total current installed capacity has reached 6,822 MW while the under-construction capacity stands at 2,969 MW, which is likely to be commissioned in phases over the next 12 months.

Over the past six months, shares of the company have surged 66 percent in trade. In comparison, the domestic frontline index, Nifty 50 has given investors returns of around 9.5 percent during the same period.

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