Promoter JSW Investments on Wednesday (August 16) divested a 1.27 percent stake in JSW Energy for Rs 717.57 crore through open market transactions.

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US-based boutique investment firm GQG Partners Emerging Market Fund bought 1 crore shares, or a 0.6 percent stake, in the power producer at Rs 341.70 apiece for Rs 351 crore.

Washington State Investment Board, AustralianSuper, Reliance Trust Institutional Retirement Trust Series Twelve, Witan Investment Trust Plc, and Alliance Trust Plc, among others, were the buyers of the shares of JSW Energy.

According to the bulk deal data available with the BSE, JSW Investments offloaded 2.10 crore shares, amounting to a 1.27 percent stake in JSW Energy.

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The shares were sold at an average price of Rs 341.7 apiece. Following the transaction, the shareholding of JSW Investments in JSW Energy reduced to 18.95 percent from 20.22 percent at the end of the June quarter.

On August 14, QG Partners bought more than 1.19 crore shares of JSW Energy at Rs 345 apiece, taking the aggregate transaction value to Rs 411 crore. The shares were disposed of at an average price of Rs 345 apiece, taking the transaction size to Rs 552 crore.

JSW Energy reported an 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.

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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.

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.

Shares of JSW Energy Ltd ended at Rs 368.10, up by Rs 23.00, or 6.66 percent on the BSE.