(Reuters) -India’s JSW Energy posted a rise in fourth-quarter profit on Thursday, driven by strong demand amid soaring temperatures.
The company’s consolidated net profit rose 16.1% to 4.08 billion rupees ($47.7 million) in the quarter, from 3.51 billion rupees in the year-ago period.
Revenue from operations rose 15.7% to 31.89 billion rupees.
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KEY CONTEXT
Power demand grew steadily in the January-to-March quarter due to rising temperatures in the country, including early heatwaves in parts of India.
India’s power demand during the quarter rose 3.2% year-on-year to 414 billion units, the company said.
JSW Energy generates 8,400 megawatts (MW), with 3,508 MW from thermal, 1,391 MW from hydro, 2,826 MW from wind and 675 MW from solar.
Peer Tata Power reported a fourth-quarter profit surge on strong power demand, while Torrent Power’s profit more than doubled due to lower costs.
PEER COMPARISON
Valuation (next 12 Estimates (next 12 Analysts’ sentiment
months) months)
RIC PE EV/EBITDA Revenue Profit Mean No. of Stock to Div
growth (%) growth (%) rating* analyst price yield
s target** (%)
JSW Energy 28.68 11.04 45.25 51.54 Buy 15 0.78 0.42
NTPC 14.37 9.11 8.12 9.33 Buy 17 0.81 2.20
Tata Power Company NULL 12.24 11.28 15.05 Hold 21 0.95 0.50
Torrent Power 27.88 12.75 10.57 4.28 Hold 9 1.06 1.24
* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
JANUARY-MARCH STOCK PERFORMANCE
— All data from LSEG
— $1 = 85.4590 Indian rupee
(Reporting by Yagnoseni Das and Anuran Sadhu in Bengaluru; Editing by Vijay Kishore)
