JSW Energy revenues fall 13% on lower demand

JSW Energy reported a 13% year-on-year drop in its revenues at Rs 2,231.85 crore for the September quarter on lower industrial demand. The plant load factor (PLF) at two major plants in Vijaynagar and Barmer fell due to lower industrial demand. Revenues were also impacted by lower fuel cost during the quarter, which includes the variable cost of the two-part tariffs. Its net profit for the quarter, however, rose 15.79% year-on-year to Rs 353 crore due to lower expenses.

During the September quarter, PLF at Vijaynagar dropped to 40.1% against 51.8% in same quarter last year due to lower long term power sales, while at Barmer in Rajasthan, the average PLF dropped to 60% as against 71.5% due to back-down by discoms. The operating profit (Ebitda) for the company rose 8.5% year on year to `934 crore, as the fuel cost for the quarter dropped 26% year on year to `983 crore. The drop in fuel cost was primarily driven by moderation in the imported coal prices.