JSW Energy, a private-sector power producer in India and part of the $23 billion JSW Group, today announced its financial results for the quarter and the fiscal year ended March 31, 2024.
For FY 2024, the company’s total revenue increased 10% YoY to INR 11,941 crore ($1.43 billion). EBITDA for the year grew by 53% YoY to INR 5,837 crore driven by renewable energy capacity additions and strong thermal performance. Profit after tax (net profit) increased by 17% YoY to INR 1,723 crore
The company made significant strides towards its outlined target of 20 GW by FY 2030 by locking-in additional RE projects with a cumulative capacity of 3.4 GW. It also signed BESPA for India’s largest BESS project. The preparatory site works for the project have started.
Q4 FY 2024
During the quarter, total revenue increased to INR 2,879 crore, 3% up year-on-year from INR 2,806 crore in Q4 FY23. EBITDA in the quarter grew by a strong 47% YoY to INR 1,292 crore, driven by incremental contribution from renewable portfolio and strong performance by thermal assets.
Profit after tax increased by a robust 29% YoY to INR 351 crore in the quarter, while the cash PAT during the quarter stood at INR 686 crore.
The company won RE bids with a cumulative capacity of 3.4 GW in the quarter. This included 2.4 GW of solar projects (700 MW each from NTPC, SECI and SJVN, and 300 MW from GUVNL) and 1 GW of wind power projects won from SECI.
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