JSW Energy Q2 net profit rises 50% to ₹1,056 crore

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Revenue from operations rose 23% year-on-year to ₹6,368 crore during the quarter, aided by an 18% increase in revenue from the thermal business

By BL Ahmedabad Bureau

Updated - October 28, 2026 at 04:38 PM.

JSW Energy’s power sales volume increased 17 per cent year-on-year to 17.5 billion units during Q2 | Photo Credit: REUTERS

JSW Energy Ltd reported a 50 per cent year-on-year growth in consolidated net profit attributable to shareholders at ₹1,056 crore for the second quarter of FY27, driven by higher power sales, capacity additions and improved generation across its thermal and renewable energy businesses.

Revenue from operations rose 23 per cent year-on-year to ₹6,368 crore during the quarter, aided by an 18 per cent increase in revenue from the thermal business and a 31 per cent rise in the renewables segment, according to the company’s results.

JSW Energy’s power sales volume increased 17 per cent year-on-year to 17.5 billion units during the quarter. Thermal generation rose 13 per cent to 8.9 billion units, supported by higher output at its Mahanadi and Utkal plants, while renewable generation increased 21 per cent to 8.6 billion units.

Wind and solar generation grew 25 per cent and 36 per cent, respectively, aided by capacity additions and improved plant performance.

Signed Deals

The company’s installed capacity crossed the 15 GW milestone, reaching 15,147 MW as of October 5, following capacity additions of 1,686 MW in the first half of FY27.

Renewable energy accounted for around 51 per cent of the installed portfolio. During the quarter, JSW Energy acquired the 300 MW Maruti thermal power plant in Chhattisgarh for an enterprise value of about ₹1,410 crore.

The company also signed an agreement with Bhutan’s Druk Green Power Corporation to jointly develop the 920 MW Punatsangchhu-III hydropower project, marking its first power generation venture outside India.

The company also completed turbine-generator orders for the entire 3,200 MW Salboni thermal power project in West Bengal.

Separately, the National Company Law Tribunal sanctioned the scheme for the demerger of GE Power India’s boiler business at Durgapur into JSW Energy.

JSW Energy said it remained on track to achieve its FY27 capacity addition target of 3 GW, supported by projects under execution and the availability of land, transmission connectivity and equipment supplies. Its longer-term strategy envisages expanding installed capacity to 30 GW by FY30.

The company’s consolidated net worth stood at ₹36,710 crore as of September 30, 2026, while cash and cash equivalents amounted to ₹15,698 crore. Net debt-to-equity stood at 1.79 times, and the operational net debt-to-EBITDA ratio was 4.94 times.

The company’s board on Wednesday approved two separate fund-raising proposals. It cleared raising up to ₹5,000 crore through listed non-convertible debentures on a private placement basis.

Separately, it approved raising up to ₹6,000 crore through eligible securities, subject to shareholder and regulatory approvals.

The second proposal represents the unutilised portion of a ₹10,000 crore fund-raising limit approved by shareholders in January 2026. JSW Energy will seek shareholder approval through a postal ballot for the ₹6,000 crore fund raise.

Published on October 28, 2026

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