JSW Energy Q2 profit zooms 96% to Rs 318.63 cr

JSW Energy today reported 96 per cent jump in net profit at Rs 318.63 crore for the second quarter ended September 30, 2014-15, mainly due to increased power generation at its plants.
It had posted net profit of Rs 162.59 crore for the July- September quarter of 2013-14.
The total income for Q2, 2014-15 increased from Rs 2,079.56 crore to Rs 2,372.28 crore in the year-ago period.
"During the quarter, the company achieved a net generation of 5,236 million units with the average deemed PLF (plant load factor) of 87 per cent. The PLF has improved primarily due to pick up in demand in the quarter," JSW Energy said in a statement.

The merchant (power) sales in Q2 were at 1,947 million units, while the sales under long term PPA (power purchase agreement) were 3,289 MUs.
The fuel cost for the quarter was Rs 1,224 crore, higher by 19 per cent compared to a year ago primarily due to increased generation which was partly offset by lower coal prices.

The company said its 240 MW Kuther hydro-electric power project in Himachal Pradesh and the expansion of its Barmer Lignite Mining company are on track.
JSW Energy has diversified interests in power, mining, industrial gases, port facilities, aluminium, cement and information technology.
It has an operational capacity of 3,140 MW.

JSW Energy's scrip remained unchanged from its previous close at Rs 80.25 on the BSE.