JSW Energy has earned a net profit of Rs 214.2 crore for its quarter ended June 30, 2013, which is much higher than the net profit of same period last year, which was Rs 3.4 crore. The total income of the company for the quarter was Rs 2,471.9 crore whereas in last year’s quarter their total income was Rs 2,191.5 crore. The cost of fuel for the quarter was 8% lesser from last year and was at Rs 1,062 crore.
The fall in value of rupee against dollar is again a threat for them as well. They expect price rise in the imported coal by next quarter.
JSW Energy said that they have not yet attended the matters related to policy clearance of major issues such as standard bidding guidelines, fuel availability and long term power procurements.
The imported coal prices are at present sustainable and will remain the same until there is submissive demand for the fuel in the global market. The coal exporting countries such as India, Indonesia, and China all are facing depreciation in their currency values against the US Dollar.
The merchant prices are expected to be under pressure since the commencement of additional generation capacities and thin demand for the fuel in the global market.
JSW is in progress towards is upcoming project of 240 MW hydropower at Kuther, Himachal Pradesh and has also received all the necessary environmental approvals needed for land acquisition for the project. They have also started the bidding process for the land.