JSW Energy profit dips 15% to Rs 277.45 cr

JSW Energy Ltd today reported 14.75 per cent fall in consolidated net profit to Rs 277.45 crore for the April-June quarter of 2015-16.
"The Group has posted a net profit after taxes, Minority Interest and Share of Profit/(Loss) of Associates of Rs 2,774.50 million for the quarter ended June 30, 2015 as compared to Rs 3,254.70 million for the quarter ended June 30, 2014," the company said in a BSE filing.
According to the company's statement, its total income decreased from Rs 2,600 crore for the quarter ended June 30, 2014 to Rs 2,176 crore for the quarter ended June 30, 2015.

The merchant sales during the first quarter of the current fiscal were 1,990 million units and the sales under long term power purchase agreement were 2,490 million units.
During the quarter the company achieved an average plant load factor of 75 per cent as against 84 per cent a year ago.
The fuel cost reduced by 17 per cent to Rs 974 crore primarily due to lower landed cost of imported coal. However, these gains were offset by the lower generation and marginal decline in the realisation.
The company has commenced enabling works for the 240 MW projects in Himachal Pradesh and expects the award of EPC contracts to be completed by the second quarter of 2015-16. The cost incurred on the project upto June 30 is Rs 239 crore.

During the quarter, Barmer Ignite Mining Company has dispatched 1.44 MT of lignite to feed the company's power plant in Balmer. The tendering process for selection of mine development and operator for Kapurdi and Jalipa lignite mines by EIL has commenced and the evaluation of tenders is under process. The project cost incurred till June 30 is Rs 1,837 crore.