JSW Energy loses a whopping 1.09b rupees in Q2 2011

Blame it on the 8.7% decline in the rupee.

According to a Bloomberg report, the loss, including those of units, was 1.09 billion rupees ($22 million), or 0.66 rupee a share, compared with a profit of 1.85 billion rupees, or 1.13 rupees, in the three months ended Sept. 30, JSW Energy said in a statement to the Bombay Stock Exchange.

Bloomberg noted that the currency loss was 788.1 million rupees. The rupee depreciated 8.7 percent last quarter, the most since 1992 and the worst performer after South Korea’s won among Asian currencies, as Europe’s debt crisis prompted investors to pull money out of emerging-market assets.

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