JSW Energy Stock Surges 5.33% to ₹718.95 on November 7, 2024

JSW Energy is gaining investors’ attention on Thursday. On November 7, 2024, JSW Energy share price opened at ₹691.00, up from its previous close of ₹682.60. At 10:29 AM, the share price of JSW Energy was trading at ₹718.95, up by 5.33%. 

The stock touched its 52-week high at ₹804.90 on September 24, 2024. Over the last one year, JSW Energy share price has moved up from ₹386.50 on November 7, 2023, to ₹691.00 on November 7, 2024. 

Q2 FY 2025 Financial Highlights

Profit After Tax (PAT) for the quarter was ₹853 crore, with Cash PAT at ₹1,190 crore, showing slight YoY growth. Despite a 5% YoY decline in reported EBITDA to ₹1,907 crore, JSW Energy’s underlying EBITDA grew by 4% YoY, driven by higher generation output. 

The company has successfully expanded its renewable energy capacity, with the addition of 204 MW of wind capacity during the quarter, bringing the total installed capacity to 7.8 GW. This is part of a larger growth trajectory, with 495 MW of capacity added in FY25 to date.

JSW Energy also won Renewable Energy (RE) bids for 3.7 GW, bringing its total locked-in generation capacity to 19.2 GW. The company signed new Power Purchase Agreements (PPAs) for 3.8 GW of RE projects during the quarter, ensuring long-term agreements for two-thirds of its projects won in CY24.

Additionally, the company recently in October entered a Memorandum of Understanding (MoU) with Korea’s POSCO Group to explore collaboration opportunities in steel, battery materials, and renewable energy sectors in India, further strengthening its position in the growing renewable energy space.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.