JSW Energy earnings increased 12 pcs at Rs 353 cr in the second quarter

New Delhi, November 1 () JSW Energy on Friday recorded an increase of approximately 12 percent in consolidated net profits to Rs 353 million for the September quarter of this fiscal year, mainly due to lower fuel costs and financing.

The company had reported a profit of Rs 316 Rs in the same period last year, according to an EEB document.

The gain in April-September also increased to Rs 597.36 crore from Rs 545.13 rupees a year ago.

Total revenues during the quarter examined fell 13 percent to Rs 2,232 crore from Rs 2,568 crore in the period of the previous year, mainly due to the decrease in the cost of fuel.

The cost of fuel for the quarter fell 26 percent year-on-year to Rs 983 million rupees mainly due to the moderation in the prices of imported coal, the company said.

The financial cost decreased to Rs 272 crore from Rs 308 crore in the corresponding quarter of the previous year, attributable to the early repayment of the debt or to the prepayment.

Consolidated net worth and net debt as of September 30, 2019 were Rs 11,756 million rupees and Rs 9,702 million rupees, respectively, which resulted in a net debt to capital ratio of 0.83X.

The company is mainly engaged in the power generation business. KKS ANU