Independent power producer JSW Energy reported a net profit of ₹1.68 billion (~$19.42 million) in the third quarter (Q3) of the financial year (FY) 2025, a decrease of  27% YoY from ₹2.31 billion (~$26.70 million) due to lower revenues from thermal and hydropower projects.

JSW Energy’s earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 9% YoY to ₹11.15 billion (~$128.88 million).

Total revenue also declined by 1% YoY to ₹26.40 billion (~$305.15 million).

The company reported an earnings per share (EPS) of ₹0.96 (~$0.011) compared to ₹1.41 (~$0.016) in the corresponding quarter last year.

Net generation rose 10% YoY to 6.8 billion units (BUs), driven by wind capacity additions and increased hydro generation. Renewable energy output grew 18% YoY to 1.6 BUs, with wind generation up 38% YoY to 639 million units (MUs) and hydro generation increasing 14% YoY to 723 MUs, benefiting from improved hydrology.

JSW Energy’s total installed renewable capacity reached 8,117 MW, comprising 2,543 MW of wind, 675 MW of solar, 3,508 MW of thermal, and 1,391 MW of hydro.

The company has a locked-in generation capacity of 28,308 MW, with 6,717 MW in the pipeline, distributed as 26% thermal and hybrid, 22% solar, 20% wind, and 6% hydro. Its energy storage capacity is locked at 16.3 GWh, including 14.4 GWh of pumped hydro storage and 1.9 GWh of battery storage.

Construction of a 3,800 tons per annum green hydrogen project is underway, with commissioning expected by March 2025.

9M FY25

JSW Energy recorded a net profit of ₹15.43 billion (~$178.35 million) during the first nine months (9M) of FY25, a 12% YoY increase from ₹13.71 billion (~$158.47 million).

The EBITDA for the period totaled ₹46.02 billion (~$531.93 million), up 1% YoY from ₹45.45 billion (~$525.34 million).

Total revenue also declined by 1% YoY at ₹91.42 billion (~$1.05 billion).

The company reported an EPS of ₹8.84 (~$0.10) compared to ₹8.34 (~$0.096) in the corresponding period last year.

In December, JSW Neo Energy signed a definitive agreement to acquire a 4,696 MW renewable energy platform from O2 Power for ₹124.68 billion (~$1.46 billion). Around 2.3 GW of the acquired renewable energy capacity is expected to be operational by June 2025, with an additional 2.4 GW by June 2027.

JSW Neo Energy also acquired three wind energy projects of Hetero Wind Power with a cumulative capacity of 125 MW for ₹6.3 billion (~$74.93 million).