New Delhi, Aug 06 : JSW Energy on August 6 posted a 6.6 per cent rise in its consolidated net profit to Rs 244.38 crore in the June quarter, mainly on account of higher revenues and lower expenses.
The company’s consolidated net profit was Rs 229.17 crore for June 2018 quarter, a company statement said.
Its total income rose to Rs 2,463.99 crore from Rs 2,427.87 crore.
The company has only one reportable segment and that is power generation.
Besides, approving financial results of the company, its board in its meeting held on August 6, also approved the raising of long-term funds up to Rs 2,500 crore, through issuance of redeemable non-convertible debentures by way of a private placement
The board has authorised its finance committee to decide on all matters related to the proposed issuance of the debentures, including finalisation and approval of the detailed terms of issue.
The company said finance costs declined to Rs 270 crore in the June 2019 quarter as against Rs 313 crore a year ago, which is attributable to proactive debt repayment or prepayment.
The consolidated net worth and consolidated net debt as on June 30 were Rs 11,928 crore and Rs 10,221 crore, respectively, resulting in a net debt-to-equity ratio of 1:0.86.
The company’s total net generation from its power plants declined to 5,867 million units in June quarter from 6,086 million units year ago.
