US-based boutique investment firm GQG Partners on Monday (August 14) bought more than 1.19 crore shares of JSW Energy at Rs 345 apiece, taking the aggregate transaction value to Rs 411 crore.

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Meanwhile, Authum Investment & Infrastructure offloaded shares of JSW Energy for Rs 552 crore through an open market transaction. The shares were disposed of at an average price of Rs 345 apiece, taking the transaction size to Rs 552 crore.

According to the bulk deal data available with the BSE, Authum Investment & Infrastructure sold 1,60,00,000 shares, amounting to a 0.97 percent stake in JSW Energy. Authum is a BSE-listed and registered NBFC in the business of investment in shares and securities.

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Last month, JSW Energy reported over 48 percent decline in consolidated net profit to Rs 290 crore in the April-June quarter due to the one-time impact of non-operational expenses of the recent Mytrah buyout and Ind-Barath 700 MW thermal plant deal under the insolvency route.

In the quarter, total revenue stood at Rs 2,927 crore during the period under review, down 3.3 percent against Rs 3,026.3 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA increased 19.6 percent to Rs 1,222.1 crore in the fourth quarter of this fiscal over Rs 1,022 crore in the corresponding period in the previous fiscal.

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The EBITDA margin stood at 41.7 percent in the reporting quarter against 33.8 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The consolidated net worth and net debt as on June 30, 2023, were Rs 19,111 crore and Rs 22,904 crore, respectively, resulting in a net debt-to-equity ratio of 1.2x and net debt/EBITDA of 4.7x. The liquidity continues to be strong, with cash balances standing at Rs 2,572 crore as of June 30, 2023.

Shares of JSW Energy Ltd ended at Rs 345.10, up by Rs 3.40, or 1.00 percent on the BSE.