Mumbai: JSW Energy, a part of the Sajjan Jindal group, reported a net profit of ₹237.27 crore during the third quarter of 2019-20, a marginal improvement from ₹229.53 crore a year ago. Earnings remained stable an a year-on-year basis as fuel and finance costs fell from the year-ago period.
The company is going to foray into the solar power sector, said Sharad Mahendra, director and chief operating officer, JSW Energy. “We are examining the environment in solar power and will consider participating in reverse bidding for setting up projects. In the first rush to set up solar plants, there was a lot of dollar-funded private equity investors participating who brought the tariffs down. We believe this has stabilized now and tariffs at ₹2.60-2.85 per kWh range suit a long-term player like us.”
