Shares of JSW Energy rallied 6% on 8 May after the company announced its quarterly earnings for January-March. 

The company reported a 22.5% year-on-year increase in net profit to Rs 345.3 crore for the quarter under review from Rs 282 crore reported in the same quarter last year. 

The revenue from operations of the company during the quarter stood at Rs 2,755.9 crore, marking a 3.2% YoY increase from Rs 2,670 crore reported in the same quarter of the previous fiscal year. 

The earnings before interest, tax, depreciation, and amortisation (EBITDA) jumped 56.8% YoY to Rs 1,168.5 crore during Q4FY24 from Rs 745.3 crore reported in Q4FY23. The EBITDA margins expanded to 42.4% during the quarter from 27.9% in the corresponding period in the previous fiscal. 

The board of directors of the company have also recommended a dividend of Rs 2 per share. 

The company’s board has also approved raising funds not exceeding Rs 10,000 crore in one or more tranches through the issuance of eligible securities of the company by way of private offerings or on a preferential allotment basis or a qualified institutions placement or any other method or combination thereof as may be permitted under applicable laws.

At 12:37 pm, the shares of JSW Energy shed all its early gains and were trading 2.91% lower at Rs 567 on NSE.