JSW Energy

YoY, the numbers of JSW Energy actually look good. For Q1FY17, consolidated turnover was at Rs.2492 crore, up 15%  and net profit was up 19% at Rs.367 crore. During the quarter, the company had the highest net power generation at 6648 million units, up 48%. This was attributed to power generation from hydro power units acquired in FY16 and better performance of the Ratnagiri plant whose Plant Load factor (PLF) rose from 73% to 86%. But this was partially offset on account of shut down of Vijaynagar and Barmer plant for maintenance and low scheduling of power since June. In terms of price realization, the average price was at Rs.4.16/kwh v/s Rs.3.84/kwh in Q1FY16. EBITDA came in at Rs.1159 crore, up 31% and margins improved from 47% to 41%.

The company’s net debt currently stands at Rs.13,836 crore, down 5.5% but interest outgo surged 64% to Rs.429 crore in Q1.

The company has stated that withdrawn from the process of acquiring Monnet Power as it was not accepted by the lenders of Monnet. The prospect ahead was not so optimistic – the company has said that it expects the merchant demand and prices to remain benign unless pick-up in economic activity drives significant demand improvement.