JSW Energy shares in focus today as Q4 net profit falls 68%

Shares of JSW Energy are in focus today after the firm reported a 68.5 per cent fall in Q4 net profit to Rs 272.1 crore against a net profit of Rs 864.4 crore in the corresponding quarter last fiscal. The earnings were announced after market hours on Tuesday. JSW Energy stock closed 1.27% higher at Rs 248.05 against the previous close of Rs 244.95 on BSE in the previous session. The stock zoomed to an intraday high of Rs 254, gaining 3.69% on Tuesday.

However, the stock has lost 20 per cent in a year and fallen 13.71 per cent in 2023. In a month, JSW Energy stock has declined 2.36 per cent.

Total 0.54 lakh shares of the firm changed hands amounting to a turnover of Rs 1.34 crore on BSE. Market cap of the firm rose to Rs 40,796 crore in the previous session.

In terms of technicals, the relative strength index (RSI) of JSW Energy stands at 44.6, signaling it's trading neither in the overbought zone nor in the oversold zone. JSW Energy stock has a one-year beta of 1.7, indicating very high volatility during the period. JSW Energy shares are trading lower than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The stock hit a 52-week high of Rs 369 on September 5, 2022 and a 52-week low of Rs 182 on June 20, 2022.

Revenue from operations climbed 9.4 per cent to Rs 2,670 crore in the March 2023 quarter compared to Rs 2,440.7 crore in the year ago period. The earnings before interest, taxes, depreciation, and amortization (EBITDA) fell 34.1 per cent to Rs 745.3 crore in Q4 as compared to Rs 1,131.7 crore.

The company's board recommended a dividend of Rs 2 per equity share, said JSW Energy in its filing.

Additionally, JSW Energy's board has approved the re-appointment and remuneration of Sajjan Jindal as the Chairman and Managing Director of the company for a period of 5 years with effect from 1 January, 2024.

In the last fiscal, sales zoomed 18% to Rs 8167.15 crore against Rs 6922 crore in the previous fiscal. Profit climbed 117.31% to Rs 1728 crore in FY23 against Rs 795 crore in the previous fiscal.

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