JSW Energy Q4 Results: PAT Rises 22% To Rs 345.3 Crore; Dividend Announce Rs 2 Sh

JSW Energy, a key player in the energy sector, reported on Tuesday its consolidated net profit for the fourth quarter of FY24. The company's net profit rose by 22.4% year-on-year to Rs 345.27 crore, driven by robust performances from its thermal energy portfolio and a surge in short-term market sales.

The revenue from operations also witnessed a healthy increase, rising to Rs 2,755.87 crore in Q4 FY24 from Rs 2,669.97 crore in the same period last year. The company attributed this growth to increased generation under long-term power purchase agreements (PPAs) and a significant uptick in short-term sales, fueled by strong underlying power demand in the country.

JSW Energy's Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) for the quarter increased by 47% to Rs 1,292 crore, with an EBITDA margin of 45%, up from 31% in the same quarter last year. The board has recommended a dividend of Rs 2.0 per share, subject to the approval of the shareholders.

Looking ahead, JSW Energy remains optimistic about the power sector outlook, expecting it to remain healthy over the medium term. The company cited rapid urbanisation, government-led capital expenditure, and a strong investment cycle as factors contributing to this positive outlook. Additionally, JSW Energy is working on plans for battery storage manufacturing to support its entry into the electric vehicle segment.

For the full year ended March, JSW Energy's net generation rose by 27% year-on-year, driven by higher renewable energy and thermal generation, partially offset by lower hydro generation. The company's total revenue for FY24 increased by 10% year-on-year to Rs 11,941 crore, while EBITDA grew by 53% to Rs 5,837 crore, its highest till date. The profit after tax for FY24 increased by 17% year-on-year to Rs 1,723 crore.

As of March 31, 2024, JSW Energy's consolidated net worth and net debt stood at Rs 20,832 crore and Rs 26,636 crore, respectively, translating into a net debt-to-equity ratio of 1.3. The company's cash balances were at Rs 4,691 crore, highlighting its strong balance sheet and providing it with the headroom to pursue value-accretive growth opportunities.

In April, JSW Energy launched a Rs 5,000 crore qualified institutional placement of shares, its first equity issue since its initial public offer in 2010. The company intends to use the proceeds primarily for green energy capacity, aligning with its commitment to sustainable practices and renewable energy.

This strong financial performance, coupled with strategic investments in green energy and electric vehicles, positions JSW Energy as a key player in India's evolving energy landscape.