JSW Energy powers Q1 net to Rs 214 crore
28 July 2013 4:46 AM IST
Private power utility JSW Energy on Friday posted a higher net profit of Rs 214.26 crore in the three months ended June 2013, primarily driven by higher income. The Sajjan Jindal-led company had a net profit of Rs 3.41 crore in the year-ago period. The figures are after taking into account taxes, minority interest and share of profit/loss of associates.
In a statement, JSW Energy said its total income from operations in the latest quarter rose to Rs 2,471.96 crore. In the 2012 June quarter, the same stood at Rs 2,191.54 crore.
‘The fuel cost during the quarter was Rs 1,062 crore, a decrease of 8 per cent over corresponding quarter of the previous year,’ it said.
However, the company said the steep currency depreciation during the month of June 2013 is expected to negate benefit of lower imported coal prices in the forthcoming quarter. At the end of June 2013 quarter, the firm's consolidated net worth touched Rs 6,432 crore while overall debt reached Rs 10,625 crore.
About the power sector, JSW Energy said that policy clarity related to issues such as standard bidding guidelines, fuel availability and long term power procurements are yet to be addressed.
In a statement, JSW Energy said its total income from operations in the latest quarter rose to Rs 2,471.96 crore. In the 2012 June quarter, the same stood at Rs 2,191.54 crore.
‘The fuel cost during the quarter was Rs 1,062 crore, a decrease of 8 per cent over corresponding quarter of the previous year,’ it said.
However, the company said the steep currency depreciation during the month of June 2013 is expected to negate benefit of lower imported coal prices in the forthcoming quarter. At the end of June 2013 quarter, the firm's consolidated net worth touched Rs 6,432 crore while overall debt reached Rs 10,625 crore.
About the power sector, JSW Energy said that policy clarity related to issues such as standard bidding guidelines, fuel availability and long term power procurements are yet to be addressed.
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