Shares of JSW Energy were trading 5% higher on 23 October after the company announced its quarterly report for the July-September quarter.

The company reported an 88% year-on-year (YoY) growth in its consolidated net profit to Rs 856.79 crore against the Rs 456.67 crore posted in the same quarter of the previous fiscal year.

The revenue of the energy company grew to Rs 3,387.36 crore against the Rs 2,596.27 crore posted in the same quarter of the last fiscal year. The surge in revenue was due to increasing revenue from its renewable portfolio and strong thermal performance.

The company’s EBITDA (earnings before interest, tax, depreciation, and amortization) saw an 83% YoY increase to Rs 2,008.32 crore against Rs 1,098.37 crore reported in Q2FY23. The EBITDA margins for the quarter under review grew to 59% against the 42% reported in Q2FY23.

During the July-September quarter, the company’s net renewable generation grew by 47% YoY to 4.4 billion units, and the thermal generation was up 15% at 4.3 billion units.

At 10:22 am, the shares of JSW Energy were trading 1.56% above at Rs 393.85 on NSE.