New Delhi:

JSW Energy on Tuesday posted a more than eight-fold increase in consolidated net profit to an all-time high of Rs 864 crore in the quarter ended March, mainly due to higher revenue. The company had posted a consolidated net profit of Rs 107 crore in the same period a year earlier, he said in a statement.

“Profit after tax (PAT) stood at an all-time quarterly high of Rs 864 crore, which was 711 per cent higher than a year earlier (year on year)…” it said.

Total revenue rose to Rs 2,654 crore in the quarter under review from Rs 1,614 crore in the same period a year ago.

For the full 2021-22 fiscal year, the consolidated net profit rose to Rs 1,729 crore from Rs 795 crore in 2020-21.

“Profit After Tax (PAT) stood at an all-time high of Rs 1,729 crore, which was 117% higher year-on-year compared to a PAT of Rs 795 crore last year…” he stated. .

The total revenue in the fiscal year rose to Rs 8,736 crore from the previous Rs 7,160 crore.

The company’s board recommended a 20 per cent dividend, which is Rs 2 per share of Rs 10 each.

The board also approved the re-election of two independent directors: Rupa Devi Singh and Sunil Goyal.

In addition, it approved the re-election of Prashant Jain as a full-time director, appointed deputy general manager and chief executive officer of the company, for a period of five years with effect from June 16, 2022 to June 15, 2027, subject to approval. of the shareholders.

The company’s power generation in the March quarter amounted to 4,363 million units (MU) from 3,796 MU in the same period of the previous year.

Consolidated net worth and consolidated net debt as of March 31, 2022 were at Rs 17,415 crore and Rs 6,963 crore, respectively, resulting in a net debt to equity ratio of 0.40X.

JSW Energy said it is pursuing a growth strategy  to expand from the platform’s current 7GW capacity to 10GW by FY25 and 20GW by FY30, with all additional capacity powered by renewables.

Additionally, 2.25 GW of greenfield renewable energy capacity is currently under construction at full capacity, it added.

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