Mid Cap Power Sector Co Reports 69% YoY Dip In Net Profit, 20% Dividend

Mid cap company operating in the power sector, JSW Energy Ltd on Tuesday announced 68% decline in its net profit at Rs 272.1 crore for the fourth quarter that ended March 31, 2023 against Rs 864.4 crore declared in the corresponding quarter last year. JSW Energy shares witnessed a rally of 1.27% intraday to end at Rs 248.05 apiece on Tuesday. Check details below:

JSW Energy Declares Dividend: According to the BSE filing of the company, "The Board of Directors of the Company at its meeting held on May 23, 2023, inter alia, has recommended dividend of Rs. 2 per Equity Share of Rs. 10 (20 %) to the Members of the Company for declaration at the forthcoming 29th Annual General Meeting. In terms of Regulation 30 of the Listing Regulations, please note that the dividend recommended as above, if declared by the Members of the Company at the forthcoming 29th Annual General Meeting, shall be paid, subject to deduction of tax at source as applicable, within 30 days from the date of the Annual General Meeting."

JSW Energy Stock Performance & Return: The last trading price of JSW Energy share is Rs 248.05 apiece. The stock's 52-week high price is Rs 369.00 apiece and 52-week low price is Rs 182.00 apiece, respectively. The company has a market capitalisation of Rs 40,796.18 crore. JSW Energy share witnessed 20% decline in last 1-year, gave return of 112% in last 2-years, and 531% return in last 3-years.

JSW Energy Q4: The company's total revenue declared at Rs 2670 crore for the March quarter, up 9.4% against Rs 2,440.7 crore in the corresponding period of the last fiscal. At the operating level, EBITDA fell 34.1% to Rs 745.3 crore in the fourth quarter of this fiscal against Rs 1,131.7 crore announced in the corresponding period in the last fiscal. For FY23, total revenue soared by 24% YoY to Rs 10,867 crore from Rs 8,736 crore YoY amid higher realisation (as higher fuel costs are passed through in nature for LT PPAs) and a surge in renewable capacity.

JSW Energy About: JSW Energy was incorporated as Jindal Tractebel Power Company Limited under the Companies Act, 1956 on March 10, 1994 in Mumbai. The name of the company was changed to Jindal Thermal Power Company on January 17, 2002. Subsequently the name of the company was changed to JSW Energy Limited on December 7, 2005. JSW Energy is the first Independent Power Producer (IPP) to be set up in the state of Karnataka. The company has set up 2 units of 130 MW each and both units are generating power using Corex gas and coal.