New Delhi. JSW Energy Q4 Earnings: Sajjan Jindal-led JSW Energy announced 29 per cent rise in its consolidated net profit to Rs 351 crore for the March quarter, boosted by higher revenues. The company’s consolidated net profit stood at Rs 272 crore in the same period last year. Total revenue for the quarter saw a growth of 3 per cent year-on-year, reaching Rs 2,879 crore compared to Rs 2,806 crore in Q4FY23. Similarly, profit after tax for FY 2023-24 increased by 17 per cent YoY to Rs 1,723 crore from Rs 1,478 crore in FY23. Annual total revenue also saw a rise, rising 10 per cent to Rs 11,941 crore from Rs 10,867 crore in FY20. The company’s board approved a resolution of Rs 2 (20 per cent) per equity share of Rs 10 at the upcoming 30th Annual General Meeting. It is proposed to declare a dividend of Rs. Additionally, the Board approved changes to the Memorandum of Association (MOA) to expand the objects clause, providing clarity and specificity in relation to non-conventional and renewable energy businesses.
The amendment aims to include new areas of energy-related businesses including energy storage, renewable equipment, green hydrogen and electric vehicle components. The change is subject to members’ approval and is intended to align with the Company’s growing focus on sustainable energy solutions. Additionally, the Board met on Friday, June 28, 2024, to discuss fundraising initiatives and the proposed change to the MOA. Announced plan to convene 30th Annual General Meeting. During the quarter, JSW Energy recorded 26 per cent YoY growth in net power generation to total 6,397 million units (MU), driven by acquisitions and greenfield renewable energy capacity expansion. Was inspired by. Long-term power purchase agreement (PPA) generation increased by 21 per cent year-on-year, mainly due to increased generation at Ratnagiri and addition of renewable energy capacity. For financial year 2023-24, net generation is expected to increase by 27 per cent year-on-year. The percentage increased to 27.9 billion units (BU), driven by renewable energy capacity expansion and strong thermal performance. Renewable energy generation increased significantly by 54 percent year-on-year, reaching 9.3 BU, while long-term generation accounted for 88 percent of total net generation.
