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					</table><p><a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW Energy</a>, an independent power producer, reported a net profit of ₹2.9 billion (~$35.3 million), a decrease of 48% year-over-year (YoY) in the first quarter (Q1) of the financial year (FY) 2023-24, due to the lower realization in the thermal segment following a decline in coal prices.</p>
<p>The company’s total revenue declined by 3% YoY or ₹30.13 billion ($367 million).</p>
<p>The earnings before interest, taxes, and depreciation (EBITDA) showed a notable 18% YoY increase, reaching ₹13.07 billion ($159.2 million) in the quarter, primarily driven by contributions from renewable energy assets.</p>
<p>In terms of operational performance, power generation showed a 14% year-on-year increase, reaching 6.7 billion units (BU), driven by new renewable energy capacities (including Mytrah) and higher generation at Ratnagiri, partially offset by lower generation at hydropower assets.</p>
<p>The net renewable generation experienced a substantial 35% YoY growth, amounting to 2.3 BU, due to the addition of renewable energy capacities.</p>
<p>A net long-term generation saw an 18% year-on-year rise on the back of increased electricity generation at Ratnagiri (Unit-1) and the addition of renewable energy capacities.</p>
<p>In March 2023, JSW Neo Energy, a wholly owned subsidiary of JSW Energy, <a href="https://www.mercomindia.com/jsw-energy-under-previously-agreed-deal" target="_blank" rel="noopener">announced</a> it would acquire Mytrah Energy’s 12 special-purpose vehicles.</p>
<p>JSW Energy possesses renewable assets with a total capacity of 5,912 MW. Among these assets, 3,509 MW are currently operational, while an additional 2,403 MW are under construction and yet to be commissioned.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-56437 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Picture1-5.png" alt="" width="752" height="409" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Picture1-5.png 752w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Picture1-5-300x163.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Picture1-5-650x354.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Picture1-5-624x339.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/07/Picture1-5-600x326.png 600w" sizes="(max-width: 752px) 100vw, 752px" /></p>
<p>The company&#8217;s revenue for Q4 of FY23 <a href="https://www.mercomindia.com/renewable-energy-jsws-q4-revenue-up-by-6" target="_blank" rel="noopener">increased</a> by 6% YoY to ₹28.06 billion (~$339.13 million) on the back of the increase in renewable capacity.</p>
<p>JSW Neo Energy was among the <a href="https://www.mercomindia.com/jsw-greenko-win-karnatakas-1-gw-pumped-storage-projects" target="_blank" rel="noopener">winners</a> in the Power Company of Karnataka’s auction to supply 1 GW of energy for 8 hours daily from pumped hydro storage projects providing continuous 5-hour discharge. It won 300 MW by quoting ₹14.75 million (~$178,661).</p>


JSW Energy’s Net Profit in Q1 Slides 48% YoY on Thermal Segment Headwinds

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