JSW Energy Ltd. reported a solid growth in its earnings in the fourth quarter of financial year 2025, helped by an increase in power generation and additional capacity from a new acquisition.
The consolidated net profit of the JSW Group company rose 16% to Rs 408 crore in the January–March quarter from Rs 351 crore in the year-ago period, according to an exchange filing on Thursday. That beat the projection of Rs 295 crore by analysts tracked by Bloomberg.
Operational profitability took a hit as finance costs during the quarter surged due to additional borrowings for ongoing capital expenditure and acquisitions.
JSW Energy Q4 FY25 Highlights (Consolidated, YoY)
Revenue up 16% to Rs 3,189 crore versus Rs 2,756 crore (Bloomberg estimate: Rs 3,459 crore).
Ebitda up 3% to Rs 1,204.5 crore versus Rs 1,168.5 crore (Bloomberg estimate: Rs 1,315 crore).
Margin narrows to 37.8% versus 42.4% (Bloomberg estimate: 38%).
Net profit up 16% to Rs 408 crore versus Rs 351 crore (Bloomberg estimate: Rs 295 crore).
Business Highlights
JSW Energy's installed capacity surged 2.8 GW in the March quarter, driven by 478 MW of greenfield wind additions and 2,150 MW of thermal capacity addition. The increase coincides with the onset of the summer season in India when demand for power shoots up.
Net generation rose 24% to 7.9 billion units. Renewable energy generation during the quarter increased 32%, while net long-term PPA generation grew 28% YoY.
The power producer also completed the acquisition of KSK Mahanadi Power Ltd. in March for Rs 16,084 crore. Presently, 1,800 MW is operational and is 95% tied up under long and medium-term PPAs.
JSW Energy exceeded its FY25 operational capacity target of 10 GW, achieving the Ebitda and profit targets based on the exit run rate of its operational portfolio. It revised its 2030 target to 30 GW of generation capacity and 40 GWh of energy storage, up from the previous goal of 20 GW generation capacity.
JSW Energy's board recommended a dividend of Rs 2 per share for FY25, subject to the approval of shareholders in the annual general meeting.
Shares of JSW Energy settled 2.6% higher at Rs 487.3 apiece on the BSE ahead of the results, compared to a 1.5% advance in the benchmark Sensex. The stock has fallen 18% in the last 12 months and 24% so far this year.
Nine out of the 16 analysts tracking JSW Energy have a 'buy' rating on the stock, two recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price target of Rs 600 implies a potential upside of 23%.
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