JSW Energy Q2 profit surges as fuel costs dip
JSW Energy has reported higher net profits on the back of decline in fuel costs, on account of moderation in imported coal prices.
The Sajjan Jindal-backed $14 billion JSW Group company, raked in profits of Rs 302.7 crore, a 15.79 per cent growth when compared to the Rs 316 crore it posted in the same period last year. The fuel cost for the quarter decreased by 26 per cent on a yearly basis to Rs 983 crore.
However, revenues for JSW Engery went down by 13.08 per cent, mainly due to industrial slowdown, resulting in lower power demand pickup. Revenues were Rs 2,231 crore, compared to Rs 2,567 crore in the year ago period.
