Independent power producer JSW Energy reported a net profit of ₹8.53 billion (~$101.45 million) in the second quarter of the financial year (FY) 2025, nearly unchanged from the ₹8.5 billion (~$101.1 million) in the same period last year.

Despite flat earnings, the company saw a 14% increase in total net generation, producing 9.8 billion units (BUs) of electricity compared to 8.6 BUs in Q2 FY 2024. This growth was driven by a robust 14% rise in renewable energy generation, contributing 5 BUs. Wind generation has increased by 37% YoY, reaching 1.8 BUs, while hydro generation increased by 5% to 2.9 BUs​.

Thermal power generation also saw a 14% increase, reaching 4.8 BUs.

JSW Energy’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) fell by 5% YoY to ₹19.07 billion (~$226.82 million). However, total revenue saw a slight uptick of 2% YoY at ₹34.59 billion (~$411.42 million) due to wind capacity additions.

JSW Energy has a total locked-in generation capacity of 19.2 GW. The company has been awarded 3.7 GW of new renewable energy projects.

Additionally, the company secured new power purchase agreements for 3.8 GW of renewable energy projects in the quarter, with two-thirds of awarded projects in calendar year 2024 now tied up under long-term agreements.

First Half 2025

JSW Energy’s net profit for the first half of FY 2025 was ₹13.75 billion (~$163.54 million), a YoY increase of 21% from ₹11.4 billion (~$135.59).

JSW Energy’s EBITDA increased by 5% YoY to ₹34.88 billion (~$414.87 million). Total revenue rose 2% YoY to ₹65.02 billion (~$773.36 million).

JSW Energy is progressing on large-scale energy storage projects, including a 1 GWh battery energy storage system that is expected to be commissioned by June 2025 and a 12 GWh pumped hydro storage project with Maharashtra State Electricity Distribution Company that is expected to be commissioned by 2025​.

JSW Energy reported a net profit of ₹5.22 billion (~$63.3 million) in the first quarter of FY 2025, an 80% YoY surge.

In April this year, JSW Energy completed a ₹50 billion (~$598.74 million) qualified institutions placement (QIP), attracting strong interest from marquee global and domestic institutional investors. The QIP, marking the company’s first-ever equity raise since its listing in 2010, was oversubscribed over 3.2 times, it said in a statement.