JSW Energy's stocks are losing their power. Know why

Shares of JSW Energy fell nearly 4 percent after global brokerage JPMorgan said it expected the stock to under perform in the near term on the back of disappointing first quarter earnings.

JSW Energy said Consolidated Net Profit in the first quarter slipped to 277 crore rupees from 325 crore rupees in the same quarter a year ago. Its Sales, too, fell to 2,107 crore from 2,558 crore rupees in the comparative quarters. JSW Energy said its net generation of electricity during April-June fell to 4,480 million units from 5,006 million units as several of its plants were undergoing routine maintenance.

As a consequence, JSW Energy fell 3.85 rupees to 95 rupees on the National Stock Exchange, where 22 lakh shares were traded in the first four hours of trade versus the 5-day average of 21 lakh shares.

JSW Energy's market capitalisation has gained 15 percent in the past one year to 15,690 crore rupees.

(Image credit: Indiatimes)