JSW Energy Q4 net profit plummets 48% to Rs 174.62 crore

JSW Energy today reported a 48 per cent drop in net profit to Rs 174.62 crore for the quarter ended March 31 as net sales declined.
The company had reported a profit of Rs 335.69 crore during the corresponding quarter of 2012-13.
Total income declined to Rs 2,058.27 crore during the January-March quarter from Rs 2,300.99 crore a year earlier. Net sales fell to Rs 2,018.49 crore from Rs 2,258.54 crore, JSW Energy said in a statement.
The plant at Barmer achieved an average plant load factor of 34 per cent in the quarter compared with 73 per cent a year earlier, mainly due to non-availability of adequate lignite, JSW Energy said.

The board of directors recommended dividend of Rs 2 per equity share of Rs 10 each, or 20 per cent, for the year ended March 31, 2014. The dividend, if approved by shareholders, will be paid on July 24.
JSW Energy said the tendering process for construction of its 240 MW Kutehr project is in progress and the cost incurred on the project up to March 31 was Rs 232 crore.
On a standalone basis, the company's net profit declined to Rs 225.65 crore for the quarter from Rs 334.97 crore a year earlier.
Shares of JSW Energy closed at Rs 53.55, down 4.63 per cent on the BSE.