The deal, announced in August, is JSW Energy's largest till date; will take the firm's operational generation capacity to 6.5 Gw from 4.8 Gw now, and accelerate its plans to achieve 10 Gw by FY25
Revenue up 16% YoY to Rs 2,596 cr; finance cost rises by 7% due to additional borrowings for ongoing capex
JSW Energy on Friday posted a 37 per cent rise in its consolidated net profit to Rs 466 crore in the September quarter compared to the year-ago period mainly on the back of higher revenues. The company reported a profit after tax of Rs 339 crore in the corresponding period of the previous year, a statement said. During the quarter, total revenue increased by 16 per cent YoY to Rs 2,596 crore from Rs 2,237 crore in the year-ago period, JSW Energy said. Finance cost during the quarter (July-September) increased by 7 per cent YoY to Rs 204 crore because of additional borrowings due to ongoing growth capex. The weighted average cost of debt increased by 7 bps QoQ (basis point quarter on quarter) to 7.94 per cent, it stated. Long-term sales during the quarter stood at 6,481 million units, lower by 1 per cent YoY as lower thermal generation was partly offset by higher generation at solar operations at Vijayanagar, it informed. Short term sales during the quarter came at 194 million unit
India's JSW Energy plans to raise 2.50 billion rupees ($30.60 million) through sale of bonds maturing in three years, three merchant bankers said on Wednesday
Mahindra Logistics has announced the acquisition of the B2B express business of Gurugram-based logistics firm Rivigo Services, which will help the company accelerate its capabilities in this space
'New transformative approach' needed to produce green steel, says JSW Steel leader Sajjan Jindal
Zomato and Metro Brands may see an upside of up to 32 per cent, while JSW Energy, Kensai Nerolac, and Hikal could surge up to 11 per cent.
This is the third-biggest acquisition in the renewable energy space in India
India's JSW Energy said on Wednesday that its unit JSW Neo Energy has agreed to buy some renewable energy capacity from Mytrah Energy (India) for about 105.30 billion rupees ($1.32 billion).
Stocks to Watch today: ITC, UPL, Zomato, Arvind, Bajaj Consumer Care, among others will release their Q1 earnings today.
Company in advanced talks to acquire Mytrah Energy and Vector Green
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
S&P Global Ratings on Thursday said non-performing loans of banks are expected to decline to 5-5.5 per cent of the total advances by March 2024. As per the latest Financial Stability Report published by the RBI, the gross non-performing assets (GNPA) declined to a six-year low of 5.9 per cent in March 2022. "We project the banking sector's weak loans will decline to 5-5.5 per cent of gross loans by March 31, 2024. Likewise, we forecast the credit costs to stabilise at 1.5 per cent for fiscal 2023 and further normalise to 1.3 per cent, making credit costs comparable to those of other emerging markets and India's 15-year average," the rating agency said in a report. The small and midsize enterprise sector and low-income households are vulnerable to rising interest rates and high inflation, but it expects these risks to be limited, the agency added. With an economic pick-up, residual stress for these segments should start abating, it said, adding that NPL recoveries are likely to ...
JSW Energy on Thursday said its net profit jumped 179 per cent to Rs 560 crore in the June quarter, mainly on the back of higher revenues. "Profit After Tax (PAT) stood at Rs 560 crore, which was 179 per cent higher YoY (year on year) compared to a PAT of Rs 201 crore in the corresponding period of previous year (April-June 2021)," a company statement said. During the quarter, total revenue increased by 68 per cent YoY to Rs 3,115 crore from Rs 1,860 crore in first quarter of FY22. The increase is primarily attributable to higher contribution from short-term sales, solar capacity addition at Vijayanagar and 45MW uprating at Karcham Wangtoo, it stated. Underlying finance cost during the quarter decreased by 2.5 per cent YoY to Rs 193 crore on the back of 18 bps (basis points) reduction in the weighted average cost of debt partially offset by increase in gross debt, it explained. The consolidated net worth and consolidated net debt as on June 30, 2022 were Rs 16,638 crore and Rs 7,7
CLOSING BELL: Among sectors, the Nifty PSB index rose 1.56 per cent, while the Nifty Pharma slipped 0.4 per cent
Stocks to watch today: Tata Elxsi, L&T Infotech will report their June quarter results 2022 on Thursday July 14; Mindtree posted 37.3 per cent rise in net profit to Rs 471.6 crore for Q1FY23.
The company bagged the project in a tariff-based competitive bids invited by SECI for setting up of 1,200 MW ISTS-connected wind power projects (Tranche - XII), it said.
JSW group's JSW Energy has targeted to add 15GW renewables to its portfolio with an investment of $10 billion by 2030
Shares of JSW Energy were marginally down at Rs 309.35 apiece in early trade on BSE
In a Q&A, Prashant Jain says his firm plans to raise its green energy capacity from 32% now to 55% in two years