JSW Energy’s Q4 Profits Up 22% as Renewable Generation Surges by 124%

Independent power producer JSW Energy reported a net profit of ₹3.43 billion (~$41.07 million), a jump of 22% year-over-year (YoY) in the fourth quarter (Q4) of the financial year (FY) 2023-24 due to a strong performance in the renewables segment.

Net generation was up 26% YoY at 6.4 BU, driven by contributions from acquired and greenfield renewable capacity additions and higher thermal generation. Total renewable generation was up by 124% YoY at 1.3 BU, while thermal generation was up by 14% YoY at 5.1 BU.

The company recorded a quarterly income of ₹28.79 billion (~$344.74 million), an increase of 3% YoY.

The earnings before interest, taxes, and depreciation (EBITDA) showed a 47% YoY increase, reaching ₹12.92 billion (~$154.7 million) in the quarter.

Full Year 2024

JSW Energy reported an annual net profit of ₹17.25 billion (~$206.55 million), a jump of 16.5% YoY in FY 2024.

The company recorded an annual income of ₹119.41 billion (~$1.43 billion), an increase of 10% YoY.

JSW Energy’s renewable portfolio currently has a total capacity of 9,382 MW, including 4,676 MW of wind, 3,075 MW of solar, and 1,631 MW of hydropower. The company has around 3,782 MW of operational assets and an additional 2,200 MW of assets under construction.

The EBITDA for FY 2024 showed a 53% YoY increase, reaching ₹58.37 billion ($698.94 million).

JSW Energy recently completed a ₹50 billion (~$598.74 million) qualified institutions placement (QIP), attracting strong interest from marquee global and domestic institutional investors. The QIP, marking the first-ever equity raise by the company since its listing in 2010, was oversubscribed over 3.2 times, it said in a statement.

JSW Energy reported a net profit of ₹2.32 billion (~$27.9 million), a jump of 29% YoY in Q3 of FY2024, helped by a strong performance in the renewables segment and lower fuel costs.

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