JSW Energy Q2 results: Net profit rises 83% YoY to ₹850 crore, reports highest ever quarterly EBITDA
JSW Energy Q2 results:JSW Energy released its July-September results on Friday and the company reported an 83% year-on-year rise in the net profits which rose from ₹466 crore in Q2FY23 to ₹850 crore during the quarter under review. The revenue of the company increased 30% YoY to ₹3,387 crore in the quarter ending September 2023 from ₹2,596 crore during Q2FY23.
The cash net profit of the company surged by 73% YoY to 1,180 crore during Q2FY24 from ₹681 crore during the same period last year. The company has reported highest ever quarterly earnings Before interest, taxes, depreciation, and amortization, (EBITDA) as it increased 83% from ₹1,098 crore during Q2FY23 to ₹2,008 during the quarter ending September 2023.
The EBITDA margin also jumped from 42% to 59% during the quarter under review. JSW Energy's overall net generation was up by 29% during Q2FY24 at 8.6 BUs driven by the acquired renewable energy portfolio and higher thermal generation, partly offset by lower generation at hydro assets while the net long-term generation was up by 22%.
Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! JSW Energy also announced the appointment of Ashok Ramachandran as the Chief Operating Officer (COO) of the company with effect from 20 October.
“Ashok Ramachandran, 43 years, is a Master of Engineering (Industrial Engineering) from the Swinburne University of Technology, Melbourne, Australia and a Bachelor of Engineering (Instrumentation & Control Engineering) from the University of Madras, S.R.M Engineering College, Chennai. He has an overall experience of 18 years in various senior / top management positions with Schindler not only in
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