JSW Energy on Saturday reported 36 per cent decline in its net profit at Rs 162.59 crore for the period ending September 30, mainly due to forex losses.The company, part of the diversified JSW Group, had a net profit of Rs 254.04 crore in the year-ago period.
The figures are after taking into account taxes, minority interest and share of profit/loss of associates.In the second quarter of current financial year, the company raked in a total income of Rs 2,024.63 crore compared to Rs 2,076.53 crore in the same period a year ago.
“The continued and steep depreciation of the rupee against the US dollar during the quarter has resulted in an exchange fluctuation loss of Rs 168 crore which has been considered as an exceptional item,” JSW Energy said in a regulatory filing.However, the company's total expenses in the latest quarter dropped to Rs 1,390.04 crore from Rs 1,660.17 crore in the three months ended September 2012.