JSW Energy Q3 net profit jumps more than two-fold to ₹394 cr
JSW Energy on Tuesday said its consolidated net profit jumped over two-fold to ₹394 crore during the December 2019 quarter, mainly helped by reduced expenses.
The company had clocked a ₹146-crore net profit during the corresponding quarter a year ago.
Its total income in the October-December 2019 period fell to ₹2,106 crore, from ₹2,491 crore in the corresponding period a year ago.
The firm’s total expenses also dropped to ₹1,864 crore, against ₹2,271 crore in the October-December quarter of 2018-19.
In a statement, JSW Energy said a debt restructuring agreement with Jaiprakash Power Ventures Ltd (JPVL) completed during the third quarter, “whereby the company has acquired 5 per cent equity stake in JPVL, in addition to ₹120 crore continuing as loan repayable from JPVL to the company“.
