Government-owned power generation company SJVN recorded a 31.36% year-over-year (YoY) rise in net profit in the first quarter (Q1) of the financial year (FY) 2025 to ₹3.56 billion (~$42.44 million) from ₹2.71 billion (~$32.30 million).

The company’s revenue also rose 28.76% YoY to ₹9.58 billion (~$114.21 million) from ₹7.44 billion (~$88.70 million).

Sales worth ₹7.95 billion (~$94.77 million) were recorded from hydropower during the quarter against ₹6.38 billion (~$76.06 million) in the previous year’s corresponding quarter. Sales from renewable energy (wind and solar power) amounted to ₹558.3 million (~$6.65 million) against ₹309.1 million (~$3.68 million) in Q1 FY24.

The company’s hydro and solar power generation increased 53.93% and 240.45% YoY, respectively. Hydropower generation peaked at 3,088.34 million units (MU) from 2,006.20 MU in the same quarter last year.

Solar generation rose to 159.74 MU from 46.92 MU in the previous year’s corresponding quarter. However, wind power generation fell by 17.44%, with Q1 FY25 registering 43.83 MU from 53.09 MU in the same quarter in FY24.

For the fourth quarter of FY24, SJVN recorded a total income of ₹5.73 billion (~$68.78 million), a YoY decrease of 2% from ₹5.83 billion (~$69.98 million).

In August this year, SJVN Green Energy invited bids for the outright purchase/lease of up to 2,000 acres of land for 28 years in the 765/400/220 kV Bikaner-IV Pooling Station area, Rajasthan, for setting up solar projects with a cumulative capacity of 500 MW.

In February this year, it signed an agreement for the supply of 300 MW of power to JKPCL from the 1,000 MW Bikaner solar project being developed under the Central Public Sector Undertaking program of the India Renewable Energy Development Agency (IREDA) at the cost of ₹54.91 billion (~$662.3 million).

SJVN secured a ₹100 billion (~$1.2 billion) construction financing facility in January to fund its upcoming renewable energy projects.