JSW Energy sizzles after Q1 result

JSW Energy gained 3.03% to Rs 69.75 at 11:25 IST on the BSE after consolidated net profit rose 6.6% to Rs 244.38 crore on 2.2% rise in net sales to Rs 2412.17 crore in Q1 June 2019 over Q1 June 2018.

The result was announced after market hours yesterday, 6 August 2019.

Meanwhile, the S&P BSE Sensex was up by 36.67 points or 0.1% at 37,013.57.

On the BSE, 27000 shares were traded in the counter so far compared with average daily volumes of 29000 shares in the past two weeks. The stock had hit an intraday high of Rs 70.4 and an intraday low of Rs 68 so far during the day. The stock hit a 52-week high of Rs 77 on 28 May 2019. The stock hit a 52-week low of Rs 56 on 8 October 2018.

The company's earnings before interest tax depreciation and amortization (EBITDA) increased 2.01% to Rs 861 crore in Q1 June 2019 compared with Rs 844 crore in Q1 June 2018.

The finance cost declined 13.73% to Rs 270 crore in Q1 June 2019 from Rs 313 crore in Q1 June 2018 due to proactive debt repayment and prepayment. The fuel cost declined 2% to Rs 1366 crore in Q1 June 2019 largely due to moderation in imported coal prices.

The plant load factor (PLF) was at 69% in Q1 June 2019 as compared to 69.8% in Q1 June 2018. Plant Load Factor (PLF) is the ratio between the actual energy generated by the plant to the maximum possible energy that can be generated with the plant working at its rated power and for a duration of an entire year.

The consolidated net debt as on 30 June 2019 were Rs 10221 crore, resulting in a net debt to equity ratio of 0.86x.

In a separate announcement, the company said that its board has also approved raising of long term funds upto Rs 2,500 crore, through issuance of redeemable non-convertible debentures by way of a private placement.

JSW Energy is one of the leading private sector power producers in India and is a part of JSW Group. JSW Energy has its presence in power generation, transmission and mining.

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