JSW Energy reported a 27% decline in net profit for Q3FY25 at ₹168 crore, compared to ₹231 crore in Q3FY24, missing analyst estimates of ₹347 crore.
Revenue for the quarter also fell short of expectations, dropping 4.1% to ₹2,439 crore from ₹2,543 crore in Q3FY24. Analysts had projected revenue of ₹2,958 crore.
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The company’s Ebitda saw a steep decline of 17.7%, coming in at ₹914 crore in Q3FY25 as against ₹1,111 crore in Q3FY24, significantly below the analyst forecast of ₹1,303 crore.
Finance costs for the quarter increased to approximately ₹565 crore from ₹521 crore in Q3FY24 due to project capitalisation. The weighted average cost of debt for the company stood at 8.87%.
JSW Energy announced that 2.3 GW of capacity is expected to become operational by June 2025, with an additional 2.4 GW slated for completion by June 2027, bringing its total capacity to 4.7 GW.
The company’s net generation rose by 10% year-on-year to 6.8 billion units (BUs) during the quarter, driven by wind capacity additions, incremental generation at Utkal Unit-1, and hydro plants. Renewable energy generation increased by 18% year-to-year to 1.6 BUs, fueled by a 38% year-to-year rise in wind generation and a 14% year-to-year increase in hydro generation.
The company’s board also approved raising of long term funds up to ₹3,000 crore through the issuance of rated and listed non-convertible debentures on a private placement basis.
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On December 27, the company signed an agreement to acquire a 4,696 MW renewable energy platform from O2 Power for an enterprise valuation of ₹12,468 crore.
The company was declared as successful applicant and received Letter of Intent from Resolution Professional for 3,600 MW KSK Mahanadi Thermal Power Plant on 13 January.
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