JSW Energy Q3 profit drops over 34% to Rs 203 cr

Written by Press Trust of India | New Delhi | Updated: Jan 31 2014, 01:33am hrs
JswPrivate power producer JSW Energy today posted over 34 per cent drop in profit. Reuters
Private power producer JSW Energy today posted over 34 per cent drop in profit after tax (PAT) to Rs 203 crore for the third quarter ended December 31, 2013-14 fiscal. It had reported PAT of Rs 311 crore in the October- December period of the previous fiscal (2012-13), JSW Energy said in a statement.

Its total Q3, 2013-14 income from operations stood at Rs 2,151 crore, as against Rs 2,365 crore in the year-ago period.

JSW Energy produces 3,140 MW power and is implementing another 8,630 MW capacity, as per information on its website.

For the 9-month period ended December 31, its total income from operations was Rs 6,647 crore, as against Rs 6,633 crore for the same period last fiscal.

"All the requisite environmental approvals for the 240 MW Kutehr (Himachal Pradesh) project have been received. The land acquisition process for the project is on and also the tendering process for project construction is in progress," the company statement said.

It said the government has accorded environmental clearance for the expansion - from 3 MTPA (million tonnes per annum) to 3.75 MTPA - to the company's Kapurdi Mines in Rajasthan.

The government has also cleared mining capacity expansion to 7 MTPA, it said, adding that the possession of land for Jalipa mines (Rajasthan) is in progress.

"The project cost is estimated at Rs 1,800 crore (both Kapurdi and Jalipa mines) and cost incurred till December 31, 2013 is Rs 1,492 crores," the statement said. JSW Energy shares closed at Rs 43.80 apiece, down 1.02 per cent, on the BSE.