New Delhi: Sajjan Jindal-led JSW Energy on Thursday reported a consolidated net loss of Rs 483.07 crore for the quarter ended March 31, mainly because of provisioning of Rs 418 crore for a loan. The company had reported a consolidated net profit of Rs 23.72 crore in the year-ago period.

The loan was given for the acquisition of a power plant of Jaiprakash Power Ventures Ltd (JPVL). The deal was, however, terminated, JSW Energy said in a statement.

"The measurement of the loss allowance reckons with the financial ability of the party and setoffs available for certain amounts payable to the same party towards an earlier acquisition," it said.

The company said it had recorded gross and net provision of Rs 574 crore and Rs 418 crore, respectively, during the quarter against an outstanding advance of Rs 752 crore (original amount was Rs 1,000 crore), considering JPVL's continued financial challenges.

JSW Energy is evaluating all options, including legal recourse under the Insolvency and Bankruptcy Code (IBC), to recover its dues from JPVL, it said.

Radico Khaitan

Liquor firm Radico Khaitan's standalone net profit more than doubled to Rs 34.18 crore for the quarter ended March 31, 2018, on account of higher income. The company had reported a net profit of Rs 16.63 crore in the year-ago quarter.

Total income stood at Rs 1,672.3 crore compared with Rs 1,215.24 crore a year ago.