JSW Energy Q3 net profit at Rs 321 crore

JSW Energy today reported a consolidated net profit at Rs 320.68 crore for the quarter ended December 31, 2015.
The company's consolidated net profit in the year-ago period stood at Rs 380.19 crore, JSW Energy said in a BSE filing.
"During the current quarter, the total income from operations is Rs 2,649 crore as against Rs 2,381 crore in the corresponding quarter of the previous year, an increase of 11 per cent driven largely by generation from hydro assets," the statement said.
The figures for the current and previous periods are not comparable.
"In the previous quarter, the company concluded the acquisition of 100 per cent stake in Himachal Baspa Power Company Ltd (HBPCL) which has 300 MW Baspa II and 1091 MW Karcham Wangtoo hydroelectric projects both located at Himachal Pradesh," it added.

" Karcham Wangtoo plant of HBPCL has filed petition for determination of final tariff with... Compensation of Rs 150 crore received by HBPCL..In view of the above, the figures for the current and previous periods are not comparable," it said.

EBITDA before exceptional items for the quarter is Rs 1,218 crore as against Rs 1,012 crore in the corresponding quarter of the previous year, an increase of 20 per cent, primarily driven by lower fuel costs and additional generation from the hydro assets despite provision for truing-up impact at Barmer Power project, the statement said.
During the quarter, the thermal power plants have achieved an average deemed plant load factor (PLF) of 90 per cent as against 87 per cent in the corresponding quarter of previous year.

The hydro power plants achieved an average PLF of 24 per cetn during the current quarter, given the impact of seasonality and availability of water.
The merchant sales during the quarter were 2,937 million units and the sales under long-term power purchase agreement (PPA) were 3,032 million units.
On the outlook, the company said, "The various steps and initiatives undertaken by the government are expected to yield results in the long-run but the sector continues to be impacted by the challenges in the short-term due to sluggish demand, lack of long term PPAs, financial health of discoms, etc.