(Reuters) – India’s JSW Energy reported a marginal rise of 0.4% in second-quarter profit on Thursday amid overall sluggish power demand.
The power producer, which has a portfolio of 13.2 gigawatts, said its consolidated net profit rose to 8.53 billion rupees ($101.5 million) in the quarter ended Sept. 30 compared with 8.50 billion rupees a year earlier.
Revenue from operations inched up by 0.7% to 32.38 billion rupees.
For further results highlights, click [FWN3M00ZB]
KEY CONTEXT
Electricity use in India has been rising since the pandemic due to a surging economy as well as heatwaves.
However, rainfall during the annual June-to-September monsoon reduced air-conditioning demand and weighed on power consumption, analysts said.
In August, power generation dropped 4.7% year-on-year, the first decline in two years. Demand fell 4.9% to 144 billion units, largely due to excessive rainfall affecting cooling and irrigation needs.
PEER COMPARISON
Valuation Estimates Analyst
(next 12 (next 12 s’
months) months) sentime
nt
RIC PE EV/EBI Price/ Revenue Profit Mean # of Stock to Div
TDA Sales growth growth rating* analyst price yield
s target** (%)
JSW Energy Ltd JSWE.NS 38.05 16.80 NULL 25.92 37.25 Hold 11 1.04 0.29
Adani Green Energy ADNA.NS 96.60 23.42 NULL 44.68 NULL Buy 4 0.87 NULL
Ltd
NTPC Ltd NTPC.NS 17.59 10.68 NULL 6.15 8.13 Buy 14 0.94 1.90
* Mean of analysts’ ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** Ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
JULY-SEPTEMBER STOCK PERFORMANCE
**
**
— All data from LSEG
— $1 = 84.0450 rupees
(Reporting by Yagnoseni Das in Bengaluru; Editing by Mrigank Dhaniwala)
