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Lower fuel cost, coupled with the rupee appreciation and higher realisation helped boost JSW Energy’s performance in the second quarter-ended September 30.
N. K. Jain, Vice-Chairman, said the plant load factor for the quarter was up at 87.80 per cent (64 per cent) in the second quarter. The company registered a net generation of 4,593 million units (2,593 million units).
Merchant power sales were up at 2,201 million units at an average tariff of Rs 4.17 a unit, while that under long term power purchase agreements was 1,723 million units. The rupee appreciation against the dollar led to a gain of Rs 93 crore.
Pramod Menon, Chief Financial Officer, said the cost of imported coal remained range-bound at around $85 a tonne in the quarter. Fuel cost in the quarter was up 44 per cent at Rs 1,100 crore, but it was primarily due to an increase in generation.
The company had entered into a banking arrangement (a barter deal with utilities wherein power generated is supplied to utilities which is later returned). The banked power would be available for sale between November and March, he said.
The consolidated net worth and debt of JSW Energy was Rs 5,947 crore and Rs 10,144 crore, respectively. The debt equity ratio is at 1.71.
On Thursday, the company scrip closed marginally down at Rs 63.45 on the BSE.
shanker.s@thehindu.co.in
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