JSW Energy drops after Q2 PAT slumps 17% YoY to Rs 705 cr

JSW Energy declined 2.87% to Rs 525.20 after the company's consolidated net profit declined 17.4% to Rs 704.68 crore despite 59.9% jump in revenue from operations to Rs 5,177.42 crore in Q2 FY26 over Q2 FY25.

Profit before tax (PBT) fell 4.9% to Rs 955.49 crore in the quarter ended 30th September 2025.

EBITDA increased 67% YoY to Rs 3,180 crore in Q2 FY26, driven by organic renewable capacity additions and contribution from Mahanadi plant and renewable energy platform, O2 Power.

Strategic acquisitions boosting EBITDA growth as Mahanadi plant contributed incremental Rs 807 crore while O2 Power contributed Rs 267 crore of EBITDA during the quarter.

Installed capacity increased by 443 MW during the quarter to 13.2 GW, driven by 240 MW Kutehr HEP, and 203 MW of organic renewable capacity addition. The current total locked-in generation capacity stands at 30.5 GW.

During the quarter, net generation at 14,938 MUs increased by 52% YoY, while generation under long-term PPA at 13,415 MUs increased by 56% YoY, both driven by organic RE capacity additions, contribution from the Mahanadi Plant and 02 Power, and higher generation at Vijayanagar post long-term tie-up.

Cash & cash equivalents stood at Rs 6,181 crore as on 30th September 2025.

As on 30th September 2025, net debt stood at Rs 61,960 crore with net debt to equity at 2.1x.

Sharad Mahendra, joint managing director and CEO of JSW Energy, said, We are pleased to report a strong quarterly performance, with earnings growth primarily driven by healthy organic capacity additions and the recently completed inorganic capacities of Mahanadi and 02 Power.

This quarter has been especially exciting, as we commissioned the 240 MW Kutehr Hydroelectric Project in record time and completed our very first floating solar project - a true testament to our execution excellence and commitment to innovation. The integration of 02 Power and Mahanadi is progressing smoothly, and we are already witnessing meaningful synergies taking shape across our operations. We continue to remain steadfast in our focus on achieving our ambitious targets - 30 GW of generation capacity and 40 GWh of storage by 2030."

JSW Energy is a private sector power producer in India and part of JSW group. It has established its presence across the value chains of power sector with diversified assets in power generation, and transmission.

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