JSW Energy Q1 Net Profit Drops 36 PC to Rs 533 Cr

New Delhi: JSW Energy on Wednesday reported a 36 per cent decline in its net profit to Rs 533 crore in the June quarter of the current fiscal, primarily impacted by higher finance cost and depreciation.

The net profit stood at Rs 836 crore in the quarter ended on June 30, 2025, a company statement said.

It stated that “PAT (profit after tax or net profit) for Q1 FY27 at Rs 533 crore decreased by 36 per cent YoY (year on year)…primarily driven by higher finance cost and depreciation.” The company stated that the depreciation increased to Rs 890 crore in Q1 FY27 from 739 crore in Q1 FY26, reflecting the commissioning of new capacities.

Finance costs during the quarter increased to Rs 1,519 crore vis-a-vis Rs 1,306 crore in Q1 FY26 due to incremental borrowings for funding the ongoing capacity.

The weighted average cost of debt (including working capital) stands at 8.36 per cent.

Driven by the company’s Q1 FY27 fund raises, net debt decreased to Rs 61,322 crore as on June 30, 2026, excluding CWIP debt.

The consolidated net worth as on June 30, 2026, stood at Rs 36,161 crore, it stated.

The total revenue remained nearly flat year-on-year at Rs 5,437 crore.

Power sales declined by 5 per cent YoY from 13.5 BUs to 12.9 BUs.

Thermal generation decreased by 6 per cent YoY from 8.5 BUs to 8 BUs (billion units), primarily driven by lower generation at Mahanadi plant.

Renewable energy generation also declined by 3 per cent YoY from 5 BUs to 4.8 BUs, primarily driven by lower generation at Hydro plants owing to weaker hydrology.

Net long-term PPA sales declined by 4 per cent YoY from 11.8 BUs to 11.2 BUs. Short-term thermal sales remained flat at 1.6 BUs.

It also stated that in the thermal segment, the company increased its stake in Toshiba JSW Power Systems JV to 10.7 per cent from 2.4 per cent (on a fully dilutive basis), aimed at de-risking its supply chain and enabling thermal plant construction at industry-leading capital costs.

Combined with the ongoing GE boiler business acquisition, this fully de-risks the company’s thermal growth ambitions, it stated.

The company said it has added renewable capacity up to 1,081 MW (Capacity addition till July 8). Total capacity now stands at 14,535 MW.

“Q1 FY27 has been a landmark quarter for JSW Energy, marked by our highest-ever quarterly organic capacity addition in the company’s history – among the largest Q1 organic additions across the power sector. We remain firmly on track to deliver our FY27 capacity addition target of 3 GW, having already crossed nearly a third of it within the first quarter itself,” said Sharad Mahendra, Joint Managing Director and CEO of JSW Energy.

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