JSW Energy logs Rs 6 cr profit in Q4

JSW Energy Thursday reported a consolidated net profit of Rs 5.79 crore for March quarter 2019 mainly on account of higher revenues.

In the year-ago period, the company registered a loss of Rs 480.05 crore, a JSW Energy statement said.

Total income in the latest quarter was Rs 2,018.16 crore, up from Rs 1,879.01 crore a year ago.

Profit during 2018-19 fiscal was Rs 684.49 crore compared to Rs 84.91 crore in the previous year.

Total income was Rs 9,505.56 crore in the last fiscal as against Rs 8,513.98 crore in 2017-18.

The company's board in its meeting on Thursday recommended a dividend of Re 1 per equity share of Rs 10 each for the year ended March 31, 2019.

The board also decided to convene 25th annual general meeting of the members of the company on August 13, 2019.

The company also said it has decided not to pursue the electric vehicle business because of the higher than anticipated uncertainties associated with it.

Rather, it would maintain capital cushion for growth opportunities in power and other related businesses, it said.

The board has also approved the appointment of Sharad Mahendra as additional, whole-time director of the company for 5 years, subject to approval of the shareholders.