JSW Energy posted 37% rise in PAT to ₹466 cr in Q2FY23

This PAT is attributable to the owners of the company. The Q2 PAT surged from a profit of Rs. 339.24 crore witnessed in Q2FY22, however, declined from Rs. 560.43 crore in Q1FY23, a statement said.

During the quarter, total revenue increased by 16 percent YoY to ₹2,596 crore from ₹2,237 crore in the year-ago period, JSW Energy said.

Also, as per the regulatory filing, the company’s board approved the raising of long-term funds up to Rs. 2,500 crore through, inter-alia, the issuance of non-convertible debentures by way of private placement.

Meanwhile, the board also approved the appointment of Parth Jindal, son of JSW Energy CMD Sajjan Jindal, as an Additional, Non-Executive, Non-Independent Director with effect from 28 October 2022. Parth, 32 years of age, is the son of Sajjan Jindal who is the chairman and managing director of JSW Energy.

JSW Energy began commercial operations in 2000, with the commissioning of its first 2×130 MW thermal power plants at Vijayanagar, Karnataka. Since then, the company has steadily enhanced its power generation capacity from 260 MW to 4,559 MW having a portfolio of thermal 3,158 MW, hydel 1,391 MW and solar 10 MW, ensuring diversity in geographic presence, fuel sources and power off-take arrangements.

The emphasis on renewable energy comes as India is trying to boost its clean energy programme. At the COP-26 summit in Glasgow, Prime Minister Narendra Modi had said that India would achieve net zero carbon emission by 2070.