JSW Energy reported a loss of Rs 109 crore for the second quarter ended September 30 against a profit of Rs 184 crore logged in the same period last year, primarily due to increase in fuel cost and lower tariff realisation.
In addition, there was no generation at Barmar, where two units of 135 MW were shut awaiting tariff determination by the Rajasthan Electricity Regulatory Commission. The regulator-approved adhoc tariff was received on September 30. The two units have begun operations and three and four have been commissioned. Supply of lignite would be available for the plant from the Kapurdi mines.
Total income was up 18 per cent at Rs 996 crore (Rs 846 crore).
Mr L. K. Gupta, Joint Managing Director, said the prices of imported coal continued to remain firm despite having risen by about 34 per cent compared to the corresponding quarter last year. The fuel cost at Rs 762 crore (Rs 463 crore), an increase of 65 per cent, was also due to increased volume of generation. Further, there was deferment in procurement from distribution companies, whose financial health deterred many from power purchase, he said.
During the current quarter, efforts to depend more on Indonesian coal were impacted due to the heavy monsoon resulting in use of higher grade coal for sustained operations. With the monsoon receding, the company is banking on a higher proportion of low grade coal to meet its fuel requirements, he said.
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