Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
JSW Energy, an Indian power company, has announced a 28% year-on-year increase in its net profit for the December quarter, reaching ₹231 crore compared to ₹180 crore in the corresponding period last year. The boost in profitability is attributed to higher power generation during this period. The company's income also saw a 13% rise to ₹2,661 crore from ₹2,350 crore, while overall costs increased to ₹2,353 crore from ₹2,132 crore.
The EBITDA (earnings before interest, taxes, depreciation, and amortisation) witnessed a substantial 69% surge, reaching ₹1,229 crore. The Days Sales Outstanding (DSO) basis for receivables (excluding the acquired Renewable Energy portfolio) stood at 69 days, indicating a healthy collection trend, according to the company.
JSW Energy reported a 43% increase in overall net generation to 6.1 billion units, primarily driven by higher thermal generation. Total renewable generation saw a remarkable 71% surge to 1.4 billion units, while total thermal generation increased by 37% to 4.7 billion units. Net long-term generation experienced a 25% rise, propelled by increased generation at Ratnagiri and additional renewable energy capacity.
The company's consolidated net worth and net debt were reported at ₹20,976 crore and ₹26,286 crore, respectively, resulting in a net debt-to-equity ratio of 1.3 times. The net debt-to-EBITDA ratio stood at 4.6 times.
JSW Energy anticipates continued healthy power demand over the medium term due to rapid urbanisation, government-led capital expenditure, and a robust investment cycle. However, it notes that the increase in base load capacity, including real-time charging (RTC) with storage, is expected to lag behind demand growth, resulting in tight demand-supply conditions.
In organisational news, Ashok Ramachandran, Chief Operating Officer, has been appointed full-time director until January 22, 2029.
Also Read : Mitsubishi to acquire 32% stake in TVS Mobility's new venture ArcelorMittal Exits Bosnia with Sale of Steel Plant and Mine to Pavgord Group
Iron ore futures took a hit as rising shipments and new steel levies in China weighed on market sent...
China 25-Feb-2025
Liberty Steel files last-resort restructuring plan. Key creditors oppose; decision pending. 1,500...
Business 22-May-2025
Vedanta Group, a mining conglomerate, expects $6 billion in pre-tax profits in the coming fiscal yea...
Large Corporate 29-Feb-2024
Vedanta Aluminium has joined the International Aluminium Institute (IAI) as its newest member, demon...
Raw Material 09-Jan-2024
According to the sources, Adani Group unit in charge of significant Australian coal port has obtaine...
Large Corporate 14-Jun-2024
AM Green, specialising in green hydrogen and green ammonia, has signed a memorandum of understanding...
Large Corporate 24-Jan-2024