JSW Energy Q4 net profit at Rs 305 crore

JSW Energy today reported a consolidated net profit of Rs 305.43 crore for the quarter ended March 31, 2016.
The company had reported a net profit of Rs 325.22 crore after taxes, minority interest and share of profit of associate in the corresponding quarter of 2014-15, JSW Energy said in a filing to BSE.
Income from operations during January-March quarter was Rs 2,681.40 crore, over Rs 2189.73 crore in the year-ago period.
The figures for the current and previous periods are not comparable, the company informed the bourses.
Net generation in 2015-16 increased to 22,064 million units (MUs) as against 20,307 million units in the previous year, a statement said.

Net generation in the fourth quarter of 2015-16 increased to "5,894 MUs as against 4,698 MUs year-on-year".

During the quarter, the thermal power plants achieved an average deemed PLF of 92 per cent as against 84 per cent in the corresponding quarter of 2014-15.
The hydro power plants achieved an average PLF of 14 per cent during the quarter, given the impact of seasonality and availability of water.
The fuel cost for the quarter increased by 13 per cent year-on-year to Rs 1,185 crore primarily due to higher generation, increase in lignite cost as per the RERC tariff order and currency (rupee) depreciation despite a decline in the international prices of coal.

On the outlook, the company said domestic availability of coal has been improving and international coal prices have been range bound. However, lack of demand for long-term power procurement, lack of clarity around auction of coal blocks, power network congestion and high T&D losses continue to persist.
While the capacity addition has been robust through the conventional sources and policy thrust on renewables have led to encouraging capacity additions, the overall PLF has dropped, thereby putting pressure on margins and increasing the stress on fiscal health of the generating companies.
"These factors provide a challenging environment for power generating companies and we believe the margins and profitability of the sector are likely to remain under pressure till the industrial and economic growth show sustained and marked improvement," the release said.