JSW Energy posted a
sharp decline in its June quarter profits to Rs 3.41 crore as against Rs 225.32
crore, year-on-year.as it incurred a forex loss of Rs 232 crore. However, the
company’s sales grew 76% to Rs 2155.6 crore on the back of highest quarterly net
generation of 4,731 million units, growth of 95%, YoY. The company said it
stabilized operations at its Vijayanagar, Ratnagiri and Barmer plants with a
101%, 92% and 75% plant load factors.
While explaining why the company could not reap benefits of
lower coal prices, it stated, "Imported thermal coal prices corrected
sharply during the course of the quarter due to weak global economy and spurt
in thermal coal exports from US.
However, the reductions in the imported thermal coal prices have largely
been off-set due to steep depreciation in the Indian Rupee against US Dollar
during the quarter." It further said that the benefits of the reduction in
coal prices have only marginally been realised, as inventory at the beginning
of the quarter have been fully consumed during the quarter, said the company in
a statement.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
No comments:
Post a Comment