India's JSW Energy posts quarterly profit rise on strong demand
The company's consolidated net profit rose 16.1% to 4.08 billion rupees ($47.7 million) in the quarter, from 3.51 billion rupees in the year-ago period.
Revenue from operations rose 15.7% to 31.89 billion rupees.
For further results highlights, click (Full Story)
KEY CONTEXT
Power demand grew steadily in the January-to-March quarter due to rising temperatures in the country, including early heatwaves in parts of India.
India's power demand during the quarter rose 3.2% year-on-year to 414 billion units, the company said.
JSW Energy generates 8,400 megawatts (MW), with 3,508 MW from thermal, 1,391 MW from hydro, 2,826 MW from wind and 675 MW from solar.
Peer Tata Power (TTPW.NS), opens new tab reported a fourth-quarter profit surge on strong power demand, while Torrent Power's (TOPO.NS), opens new tab profit more than doubled due to lower costs.
PEER COMPARISON
* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
JANUARY-MARCH STOCK PERFORMANCE
-- All data from LSEG
-- $1 = 85.4590 Indian rupee
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