JSW Energy on Thursday reported that its consolidated net profit in the March quarter rose 16 percent to ₹408 crore from a year ago, aided by the KSK Mahanadi thermal project and organic wind capacity addition.
“Profit after tax grew 16 percent year-on-year, from ₹351 crore in Q4 FY24 (January-March 2024) to ₹408 crore in Q4 FY25, while cash PAT (profit after tax or net profit) grew 8 percent year-on-year, from ₹686 crore in Q4 FY24 to ₹744 crore in Q4 FY25,” a company statement said. During the reporting quarter, total revenue grew 21% to ₹3,497 crore from ₹2,879 crore, driven by the 1,800 MW KSK Mahanadi Thermal Power Plant and organic wind capacity additions.
Finance costs increased to ₹675 crore during the quarter as compared to ₹533 crore in Q4 FY24 due to additional borrowings for ongoing capital expenditure and acquisitions, as well as a marginal increase in weighted average cost of debt to 9.05% from 8.64% in Q4 FY24.
For the full financial year ended March 2025, total revenue grew 6% to ₹12,639 crore as compared to ₹11,941 crore in FY24.
The company said EBITDA (earnings before interest, tax, depreciation and amortisation) for the year grew 5% y-o-y to ₹6,115 crore, led by RE capacity addition, Utkal and KSK thermal plants. PAT (net profit) grew 13% y-o-y to ₹1,951 crore (in FY24) as against ₹1,723 crore recorded in FY24. The company’s board has recommended a dividend of ₹2 per equity share of ₹10 each. The board also approved raising funds up to ₹10,000 crore in one or more tranches by way of issuance of securities on a private offering and/or preferential allotment basis and/or placement to qualified institutions.
The company’s board will hold the annual general meeting on July 11. The board also approved the appointment of Aditya Agarwal as COO – Renewables, effective from June 16, 2025. During the quarter, net generation stood at 7,912 million units (MUs), up 24% over the previous year, driven by wind capacity as well as contribution from 1,800 MW KSK Mahanadi and Utkal power plants.
Total generation under long-term PPAs (power purchase agreements) grew 28% in Q4 FY25, driven by contribution from 1,800 MW KSK Mahanadi in addition to wind capacity, and tie-ups at Vijayanagar Thermal Power Plant.
Net generation grew 16% year-on-year to 32.4 billion units (BUs) in FY25, supported by capacity additions at both RE and thermal. RE generation in FY25 grew 24% y-o-y to 11.6 BU, led by 1.3 GW of wind capacity addition and improved hydrology resulting in incremental generation of 949 MUs at hydro plants.
Installed capacity grew by 2.8 GW in Q4 FY25, driven by 478 MW greenfield wind power additions and 2,150 MW thermal capacity additions. This includes the strategic acquisition of 1,800 MW operational capacity at KSK Mahanadi and the commissioning of 350 MW Unit-2 at JSW Utkal.
