JSW Energy Q4 net jumps over eight-fold to Rs 864 cr on one-time gains

JSW Energy on Tuesday reported an over eight-fold increase in consolidated net profit for the quarter ended March 31, 2022 (Q4) on one-time gains including a reversal of a provision due to a tariff true-up order of its Karcham Wangtoo power plant, located in Himachal Pradesh. After adjusting for the tariff reversal, the company’s net profit stood at Rs 372 crore in Q4, which is higher than Bloomberg’s consensus estimate of Rs 243 crore.

Revenue from operations increased 55.5 per cent year-on-year (YoY) to Rs 2,441 crore in Q4, supported by one-off revenue in JSW Hydro Energy, the company said. Notes in its financial statements for Q4 show that the company has recognised revenue of Rs 553.35 crore in the period under revenue. Bloomberg consensus estimates had pegged Q4 revenue at Rs 1,915 crore.