JSW Energy Q1 result: Net profit surged over 42% YoY to ₹743 crore; net generation rises 71%

During the quarter under review, the company’s revenue from operations stood at ₹5,143.37 crore, jumping 78.62% YoY from ₹2,879.46 crore in the first quarter of FY25.

The firm earned a revenue of ₹3,621.78 crore for its thermal segment in Q1FY26, rising 89.15% YoY from ₹1,914.79 crore in the same period a year ago. Its renewables segment revenue grew 63.77% YoY to ₹1,491.82 crore, as against ₹910.93 crore in Q1FY25. Furthermore, its unallocated segment contributed ₹29.77 crore in revenue, a 44.60% YoY from ₹53.74 crore.

At an operational level, JSW Energy’s EBITDA (earnings before interest, tax, depreciation, and amortisation) soared 96.82% YoY to ₹2,789 crore in the June FY26 quarter, compared to ₹1,417 crore in the year-ago period. The organic renewable capacity additions and contributions from Mahanadi and O2 Power drove the EBITDA growth.

Its EBITDA margin expanded to 54.23% in Q1FY26 from 49.22% in the June FY25 quarter.

JSW Energy’s net generation rose 71% YoY during the reporting quarter to 13.5 billion units (BU), bolstered by organic renewable energy capacity additions, contribution from O2 Power and Mahanadi plant, and higher generation at the Vijayanagar post long-term tie-up.

Its renewable energy generation surged 54% YoY to 5 BUs, it said in a regulatory filing. Furthermore, its net long-term power purchase generation (PPA) was up by 73% YoY to 11.8 BUs during the first quarter of FY26.

Its financial costs during the quarter increased to ₹1,306 crore, as against ₹511 Crore in the same quarter of FY25 due to additional borrowings for ongoing capital expenditure and acquisitions.

Installed capacity surged by 1.9 gigawatts (GW) during the quarter to 12.8 GW, driven by 1,343 MW from the 02 Power acquisition (completed on April 5) and 550 MW of organic renewable capacity addition, JSW Energy said.

Commenting on the Q1 earnings, Sharad Mahendra, the Joint Managing Director and CEO of JSW Energy, said: "This quarter marks an inflection point for JSW Energy as our disciplined investment strategy and sustained capex have driven robust earnings growth and a significant improvement in quality of earnings, driven by a higher share of tied-up capacity. We are actively evaluating a PPA tie-up for our open capacity to further strengthen the cash flow visibility.”

“We continue to exercise strong financial discipline, maintaining leverage within comfortable levels. This resilience is reaffirmed by ICRA's AA-/ Stable rating for JSW Neo, underscoring the strength in our balance sheet. Looking ahead, we aim to build on this momentum with a cumulative capex of ~1,30,000 Crore reaching 30 GW generation capacity and 40 GWh of energy storage capacity by FY 2030," he added.

Shares of JSW Energy closed 1.66% higher at ₹517.75 apiece on the National Stock Exchange (NSE) on Thursday. However, the results were announced after the market closed.