Q4 results: JSW Energy profit rises 29% to ₹351 crore, declares ₹2 per share dividend
New Delhi: Sajjan Jindal-led JSW Energy on Tuesday posted a 29 per cent rise in its consolidated net profit to ₹351 crore in the March quarter compared to a year ago mainly on the back of higher revenues. The company had reported a consolidated net profit of ₹272 crore in the quarter ended on March 31, 2023, according to a BSE filing.
"Profit after Tax ( consolidated net profit) increased by a robust 29 per cent YoY (year on year) to ₹351 Crore," it stated. During the quarter, total revenue increased by 3 per cent YoY to ₹2,879 crore from ₹2,806 crore in Q4 FY23, it stated.
The profit after tax increased by 17 per cent YoY to ₹1,723 crore in fiscal year 2023-24 crore compared to ₹1,478 crore in FY23. For FY24, total revenue increased 10 per cent YoY to ₹11,941 crore from ₹10,867 crore in FY23, it said.
The board has also recommended a dividend of ₹2 per equity share of ₹10 (20%) to the members of the company for declaration at the forthcoming 30th Annual General Meeting. The board also approved the raising of funds not exceeding ₹10,000 crore in one or more tranches, through the issuance of eligible securities of the company by way of private offerings or on a preferential allotment basis or a qualified institutional placement or any other method or combination thereof.
The board also approved an alteration of the Main Objects of the MoA, subject to Members’ approval, to broad-base the Objects Clause of the MoA to provide more clarity and specific details encompassing the terminologies of the non-conventional / renewable energy businesses, to mention newer areas of business related to the energy sector. The alteration in MoA is also aimed at covering main objects or areas of business in which its subsidiaries are engaged
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