Government-owned power generation company SJVN’s revenue rose 16.38% year-over-year (YoY) to ₹11.08 billion (~$131.33 million) in the second quarter (Q2) of the financial year (FY25) 2024-25 from ₹9.52 billion (~$112.75 million).

The company’s net profit remained flat at ₹4.41 billion (~$52.27 million) compared to ₹4.39 billion (~$52.1 million) in the same quarter of FY24.

The earnings per share (EPS) remained ₹1.21 (~$0.014).

Hydropower sales increased 14.40% YoY to ₹9.53 billion (~$113.08 million) in Q2 FY25 from ₹8.33 billion (~$98.84 million).

Revenue from renewable energy (wind and solar) jumped 60.91% YoY to ₹532 million (~$6.31 million) in Q2 FY25 from ₹330.6 million (~$3.92 million).

In Q2 FY25, the company’s hydropower generation increased 9.73% YoY to 4545.49 million units (MU) from 4142.26 MU. Wind power generation decreased 13.1% YoY to 51.31 MU in Q2 FY25 from 59.05 MU. Solar power generation was up 243.93% YoY to 131.66 MU in Q2 FY25 from 38.28 MU.

1H results

In the first half (1H) of FY25, the company reported a 21.87% YoY rise in revenue to ₹20.67 billion (~$245.28 million) from ₹16.96 billion (~$201.25 million).

The company’s net profit rose 12% YoY to ₹7.97 billion (~$94.57 million) in 1H FY25 from ₹7.11 billion (~$84.37 million),

The company reported EPS of ₹2.03 (~$0.024) in 1H FY25 compared to ₹1.81(~$0.021) in the corresponding period last year.

Sales from hydropower increased 18.89% to ₹17.49 billion (~$207.54 million) in 1H FY25 from 14.71 billion (~$174.55 million).

Revenue from renewable energy jumped 70.39% YoY to ₹1.09 billion (~$12.93 million) in 1H FY25 from ₹639.7 million (~$7.59 million) in 1H FY24.

SJVN’s hydropower power generation in 1H also increased 24.15% YoY to 7633.83 MU from 6148.46 MU. Wind power generation dipped 15.15% YoY to 95.14 MU from 112.14 MU. Solar power generation surged 239.31% YoY to 291.4 MU from 85.88 MU.

SJVN has about renewable energy projects in operation, 1,958 MW under development and another 6 GW of projects for which power purchase agreements have been signed.

A.K. Singh, Director Finance at SJVN noted that for their Central Power Sector Undertakings (CPSU) solar project which mandates modules with domestic content requirement (DCR), supplies have been a constraint, delaying commissioning of these projects by about six months. Land acquisition is another challenge that might delay projects he added.

SJVN was conferred ‘Navratna’ status by the government of India, giving the company greater financial and operational autonomy.