JSW Energy’s consolidated net profit rose 12 per cent to ₹353 crore in the second quarter of the ongoing fiscal year, boosted by reduced finance costs as the company proactively repaid debt. Revenue declined 13 per cent year on year to ₹2,232 crore, primarily due to a 26 per cent decrease in cost of fuel.
JSW Energy and GMR Infrastructure have entered into exclusive talks for the sale of GMR’s Odisha power plant, the two companies informed the exchanges on Monday.
JSW Energy Ltd has won a three-year contract to supply 290 megawatts (MW) of electricity from its Vijayanagar plant in Karnataka. In May, the company had said that it was the lowest bidder for the contract. So, the latest communication does not come as a major surprise.
Billionaire Sajjan Jindal’s JSW Energy July 1 announced termination of Rs 6,500 crore deal with Jindal Steel and Power Ltd (JSPL) to acquire its 1,000 MW power plant in Raigarh district of Chhattisgarh.
JSW Energy, the power generation arm of the $13 billion Sajjan Jindal group, is scouting for stressed power plants to boost its thermal generation capacity. But the company will only consider pithead plants for acquisition
JSW Energy has decided to focus only on power and dropped all its diversification initiatives after its plan to enter the electric vehicle manufacturing business was shelved. The company scrapped its plans to invest Rs 6,500 crore over the next 3-5 years to get into electric vehicle manufacturing business,
JSW Energy Thursday reported a consolidated net profit of Rs 5.79 crore for March quarter 2019 mainly on account of higher revenues. In the year-ago period, the company registered a loss of Rs 480.05 crore, a JSW Energy statement said.
JSW Energy Limited (“the Company”) has secured a Purchase Order from Telangana State Discoms of 300 MW Round The Clock power to be supplied from the Company’s Vijayanagar Power Plant, Karnataka for the period from 1st July, 2019 to 31st March, 2020.
It was one of the most intriguing electric vehicle (EV) projects simply because its manufacturer was not into automobiles. Yet, that was no deterrent to the Sajjan Jindal-led JSW Group, which had announced with much fanfare over 18 months ago that it was getting into EVs.
More than 18 months after announcing its intentions to enter the electric vehicles manufacturing space, Sajjan Jindal-led JSW Energy has abandoned this plan owing to high uncertainties associated with the business as well as to maintain capital for growth opportunities in the power sector.