JSW Energy, an arm of the JSW Group in India, today posed a net loss of Rs 480.05 crore for the quarter ended March 2018 owing to higher fuel cost and provisions against outstanding payments.
The company had recorded a net profit of Rs 24.76 crore in the corresponding quarter previous fiscal. The fuel cost for the fourth quarter 2017-18 rose 11 per cent to 1,111 crore due to increase in global coal prices.
JSW Energy also said it has recorded gross and net provisions of Rs 574 crore and 418 crore during the quarter against outstanding Jaiprakash Power Ventures (JPVL) advance of Rs 752 crore considering JPVL’s continued financial challenges. Read More