JSW Energy reported a small increase in its net profit for the second quarter of 2024, with consolidated net profit rising to ₹853 crore, compared to ₹850 crore in the same quarter last year, according to a company statement released on Thursday.
The company’s total revenue for the September 2024 quarter grew by 2%, reaching ₹3,459 crore, up from ₹3,387 crore in the same period last year.
As of September 30, 2024, JSW Energy’s consolidated net worth stood at ₹27,970 crore, while its net debt was ₹24,875 crore, resulting in a net debt-to-equity ratio of 0.9X.
Power Generation Boosted by Wind and Thermal Capacity
JSW Energy’s total power generation for the quarter was 9,840 million units (MUs), which is a 14% increase compared to the 8,638 MUs generated during the same quarter last year. This growth was mainly driven by the addition of new wind power capacity and increased generation at both thermal and hydro plants.
Long-term sales grew by 9%, largely due to higher generation from the renewable energy (RE) portfolio, while short-term sales saw a significant increase of 68% during the quarter.
The company commissioned 204 MW of new wind power during the quarter, bringing the total capacity added in FY25 to 495 MW. As a result, JSW Energy now has a total installed capacity of 7.8 GW (gigawatts). It also won bids to install 3.7 GW of renewable energy, raising its total locked-in generation capacity to 19.2 GW. Additionally, JSW Energy signed new power purchase agreements (PPAs) for 3.8 GW of renewable energy projects during the quarter, with two-thirds of the projects secured in 2024 now tied to long-term PPAs.
Renewable and Thermal Energy Growth
JSW Energy’s renewable energy generation increased by 14%, reaching 5.0 billion units (BUs). This growth was supported by a 37% rise in wind generation and a 5% increase in hydro power generation.
Meanwhile, the company’s thermal power generation grew by 14%, reaching 4.8 BUs during the quarter.
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