JSW Energy today said its Joint Managing Director and Chief Executive Officer Lalit Kumar Gupta has resigned. The company in a regulatory filing said Gupta would cease to be Joint MD and CEO with effect from November 30. When contacted,Gupta confirmed that he has resigned from the company. In response to a query on reasons for putting in his papers,Gupta said,"There is no specific reason." "I will announce my future plans after I formally leave the company on November 30," he said and declined to elaborate further. Gupta's resignation comes more than two weeks after the company posted a net loss of Rs 110.51 crore for the second quarter of this fiscal,impacted by forex losses and increased fuel costs. Announcing the quarterly results earlier this month,JSW Energy had said that its performance was "severely dented" due to an early onset of the prolonged monsoon causing deferment of power procurement by distribution companies. Shares of JSW Energy,which is mainly into power generation,rose 4.60 per cent to end the day at Rs 42.05 on the BSE.
