JSW Energy’s earnings up 11% [June 2013]

Power
JSW Energy Ltd., a part of the O. P. Jindal Group, has grown 10 folds in just 3 years. In the result for the quarter and year ended March 31, JSW’s total operational capacity has increased to 3,140 MW with the commencement of commercial operations of 540 MW capacity in Barmer. Total income from operations is ` 2,301 crore, up 11 per cent over corresponding quarter of the previous year.
Financial performance (consolidated)During the quarter, the company has achieved a total income from operations of ` 2,301 crore and EBITDA of ` 858 crore, an increase of 11 per cent and 40 per cent respectively over the corresponding quarter of the previous year. The increase in profitability is primarily due to enhanced capacity, improved PLF and lower fuel cost. The company has earned a profit after tax of ` 336 crore during the current quarter as against ` 225 crore in the corresponding quarter of the previous year.
The company achieved highest yearly net generation of 18.78 billion units, with the commissioning of additional capacities and better loading of plants. The total income, EBITDA and PAT witnessed growth of 46 per cent, 89 per cent and 431 per cent respectively over the previous year, having achieved ` 9,148 crore, ` 3,007 crore and ` 904 crore respectively primarily due to enhanced generation and lower costs.
The consolidated net worth and consolidated debt as on March 31, 2013 was ` 6,204 crore and ` 10,377 crore respectively resulting in a debt equity ratio of 1.67 times.
Key developmentsThe board of directors have recommended dividend payout of 2 per share for FY 2013 out of distributable profits of the company, subject to approval of members. As no major capital expenditure projects are in pipeline, the board has considered to provide dividend higher than the threshold of 20 per cent of the distributable profits of the company only for the current year.

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