JSW Energy Q2 net profit declines over 17% to Rs 705 crore on higher expenses

New Delhi: JSW Energy on Friday said its consolidated net profit declined over 17 percent year-on-year to Rs 705 crore in September quarter, weighed down by a surge in expenses.

It had clocked a net profit (profit after tax or PAT) of Rs 853 crore in the second quarter of preceding 2024-25 financial year, the JSW Group entity said in an exchange filing.

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In the latest July-September period, the company registered a 59 per cent year-on-year rise in total revenues to Rs 5,361 crore from Rs 3,459 crore in the year-ago period.

However, JSW Energy's expenses shot up by around 79 per cent to Rs 4,407.54 crore from Rs 2,462.89 crore in the July-September FY25.

Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said: "This quarter...we commissioned the 240 MW Kutehr Hydroelectric Project in record time and completed our very first floating solar project. The integration of 02 Power and Mahanadi is progressing smoothly, and we are already witnessing meaningful synergies taking shape across our operations."

The company will continue to remain steadfast in its focus on achieving our ambitious targets, 30 GW of generation capacity and 40 GWh of storage by 2030, he said.

JSW Energy further said that despite the Q2 FY26 PAT declined, the same grew by 5 percent y-o-y in H1 FY26 to Rs 1,448 crore.

The company said its installed capacity increased by 5.5 GW (up 71 percent YoY), leading to 52 per cent YoY generation increase.

Net generation increased by 52 percent YoY from 9.8 billion units (BUs) to 14.9 BUs.

JSW Energy added 443 MW organic renewable capacity during the quarter, taking the overall installed capacity to 13,211 MW.

Thermal generation grew robustly by 62 percent YoY to 7.8 BUs, led by contributions from the Mahanadi Plant and Utkal Unit-II.

Renewable energy generation rose 42 percent YoY to 7.1 BUs, supported by 3.3 GW of capacity additions.

During the quarter, the company signed Battery Energy Storage Purchase Agreements of 680 MWh capacity. Current total locked in storage capacity stands at 29.4 GWh with storage agreement signed for 25.2 GWh capacity.

Trial runs are underway for the 3,800 TPA (tonne per annum) green hydrogen project situated at Vijayanagar, with commissioning expected soon.

The company said equipment have been sourced for its 5 GWh battery assembly plant in Pune, line set up and commissioning is expected in Q3FY26.

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