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JSW Energy's Q4 FY24 PAT Surges 29 Percent

Revenue from operations of the JSW Group’s power utility witnessed an uptick, climbing to INR 2,755.87 crore in Q4 FY24 from INR 2,669.97 crore recorded a year earlier.

May 08, 2024. By Abha Rustagi

JSW Energy has announced a notable 29 percent rise in its profit after tax (PAT) attributable to the owners of the company for the quarter ended March 31, 2024. This growth is primarily attributed to lower tax expenses incurred during the period.

During the quarter under review, JSW Energy reported a consolidated PAT of INR 351.34 crore, marking a substantial increase from INR 272.05 crore reported a year ago. Revenue from operations of the JSW Group’s power utility witnessed an uptick, climbing to INR 2,755.87 crore in Q4 FY24 from INR 2,669.97 crore recorded a year earlier.

The company attributed the growth in total generation under the long-term power purchase agreement (PPA) in Q4 FY24 to a 21 percent year-on-year increase. This surge was driven by higher generation at Ratnagiri and renewable energy capacity additions. Additionally, short-term sales experienced a significant increase during the quarter, reflecting strong underlying power demand growth in the country.

JSW Energy's earnings before interest, tax, depreciation, and amortization (EBITDA) witnessed a remarkable climb of 47 percent, reaching INR 1,292 crore. The EBITDA margin also saw a notable improvement, standing at 45 percent in Q4 compared to 31 percent during the corresponding quarter last year.

In a move aimed at rewarding its shareholders, the company's board has recommended a dividend of INR 2.0 per share, subject to approval by the shareholders.

The financial performance of JSW Energy highlights its resilience and strategic positioning in the dynamic power sector landscape. 

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