JSW Energy net profit jumps 179% to Rs 560 crore on higher revenue

JSW Energy on Thursday posted a 179 per cent jump in its net profit to Rs 560 crore in the quarter ended June 30, 2022 (Q1), on the back of higher revenues. 

Net profit in the year-ago period stood at Rs 201 crore. In the quarter under review, revenue rose 68 per cent year-on-year (YoY) to Rs 3,115 crore from Rs 1,860 crore last year. 

The rise was mainly attributable to higher contribution from short-term sales, solar capacity addition at Vijayanagar and a 45 mega-watt uprating at its Karcham Wangtoo hydroelectric plant in Himachal Pradesh. Underlying finance cost during the quarter decreased by 2.5 per cent versus Rs 193 crore last year.