JSW Energy reported that its net profit in the September quarter was down five per cent at ₹337 crore against ₹356 crore due to higher cost and increase in tax outgo.
Revenue from operations was up eight per cent at ₹2,087 crore (₹1,939 crore). Overall expenses were up 8 per cent at ₹1,633 crore (₹1,513 crore). The deferred tax was at ₹100 crore (₹63 crore).
Power generation increased two per cent at 6,786 million units (6,653 mu). Long-term sales in the quarter was up marginally at 6,201 mu (6,194 mu) primarily due to higher sales at Ratnagiri and Vijayanagar plants but was offset by lower sales at Barmer and Hydro. Short-term sales more than doubled to 236 mu (110 mu) primarily due to higher short-term sales at Vijayanagar, the company said.
In the quarter under review, the company signed MoUs with Maharashtra government for 5 GW of wind and 1.5 GW of Hydro pumped storage projects.
Power demand increased by 10 per cent in September quarter due to an uptick in economic activity and a low base effect. Demand growth was positive across all regions in the country. Further, all-India peak power demand touched a record high of 201 GW on July 7, indicating a spurt in economic activity.
Monthly Merchant Prices averaged Rs 8.7 a unit this month highest in the last decade.