MUMBAI: JSW EnergyNSE 1.94 % has decided to focus only on power and dropped all its diversification initiatives after its plan to enter the electric vehicle manufacturing business was shelved. The company scrapped its plans to invest Rs 6,500 crore over the next 3-5 years to get into electric vehicle manufacturing business, and is now scouting for acquisition opportunities in power generation.
The company reported a net profit of Rs 4 crore in the fourth quarter of FY19, as against a loss of Rs 483 crore a year ago. Its revenue grew 7% year-on-year to Rs 2,018 crore in the March quarter.
