JSW Energy Q3 net profit surges 175% YoY on lower cost, tax credit
Mumbai: JSW Energy Ltd’s net profit jumped a whopping 175% year-on-year (YoY) to ₹404.31 crore in the December quarter, led by a tight leash on costs. The Sajjan Jindal-owned company also benefitted from exceptional gains of ₹61.46 crore due to write back of a contingent liability and net deferred tax credit of ₹114.90 crore.
However, the power generation company within the $14 billion JSW Group on Tuesday reported a 20% YoY fall in revenue from operations to ₹2,016 crore during the three months ending December.
JSW Energy also announced a debt-restructuring agreement with Jaiprakash Power Ventures Ltd (JPVL), where it has acquired about 5% equity stake in JPVL. The acquisition of equity is in addition to ₹120 crore that continues as loan repayable to JSW Energy by JPVL.
