JSW Energy posts lower net profit at Rs 21.39 cr in Q3

Total income has decreased to Rs 979.49 crore for quarter ended Dec 31, 2016

JSW Energy Ltd on Monday said on consolidated basis it has posted lower net profit at Rs 21.39 crore in the third quarter ended December 31 compared to Rs 309.25 crore in the same period of last fiscal.

Total income stood at Rs 1,954.83 crore for the quarter under review, down from Rs 2,627.04 crore posted in the three-month period ended on December 31, 2015, a company statement said here.

On standalone basis, the company has posted a net loss of Rs 24.45 crore for the quarter ended December 31, 2016 as compared to net profit of Rs 362.29 crore for the quarter ended December 31, 2015.

Total income has decreased from Rs 1,683.69 crore for the quarter ended December 31, 2015 to Rs 979.49 crore for the quarter ended December 31, 2016.

The company said that it is raising long term funds through the issuance of redeemable non-convertible debentures upto Rs 1,000 crore by way of a private placement.

The company said its wholly-owned subsidiary, Karcham Wangtoo Hydro project of Himachal Baspa Power Company has filed a petition for determination of final tariff with Central Electricity Regulatory Commission (CERC).

Pending the receipt of final tariff order, the revenue from sale of power under long term power purchase agreements are being recognised in terms of expected tariff as per the available guideline. The hydro projects were acquired during September 2015, it said.