NEW DELHI: JSW Energy witnessed a net profit of Rs 254 crore for the second quarter ended September 30, 2012 as compared to a net loss of Rs 109 crore in the similar period last year.
Pure earnings or EBITDA was up by a whopping 231 per cent, at Rs 622 crore in the given quarter. The net sales of the company stood at Rs 2,039.43 crore, over doubled when compared against the September quarter last year's figure of Rs 965.56 crore.
NK Jain, vice chairman, JSW Energy said, “The coal prices went down in the second quarter coupled with higher plant load factor (PLF) which helped us post this profit.”
However, the fuel cost for the company in the quarter under review stood at Rs 1,100 crore, higher by 44 per cent over the same period last year due to the increase in quantum of power generation.
“The issues on competitive tariff based bidding guidelines as also the issues on fuel availability and pass through of fuel costs still remain to be addressed among the key issues impacting the growth of the sector. While the tariffs are expected to remain stable with negative bias, the weakness in the international coal prices is expected to provide relief with lower fuel costs,” the company said in a statement.
In the corresponding quarter last year, the PLF stood at 87.79 per cent as against 63.58 per cent.
Vijayanagar plant achieved 100 per cent PLF as against 72 per cent last year, Ratnagiri and Barmer plants operated at 90 per cent and 64 per cent PLFs respectively.