SJVN Q2 Profit Jumps 114% To ₹657.72 Crore, Revenue More Than Doubles To ₹2,244 Crore

New Delhi, October 30: State-owned power producer SJVN Limited reported a 114 percent year-on-year jump in consolidated net profit to Rs 657.72 crore for the quarter ended September 30, 2026, compared with Rs 307.60 crore in the corresponding period last year.

Revenue from operations more than doubled, rising 117 percent to Rs 2,244.32 crore from Rs 1,032.40 crore a year earlier, according to the company's unaudited financial results filed with stock exchanges on Friday.

Revenue Growth

SJVN's consolidated total income increased 112 percent to Rs 2,290.31 crore from Rs 1,078.29 crore in the year-ago quarter.

However, total expenses also increased sharply to Rs 1,410.31 crore from Rs 658.47 crore.

Finance costs rose to Rs 488.10 crore from Rs 315.10 crore, while depreciation and amortisation expenses increased to Rs 262.78 crore from Rs 170.93 crore.

The company also reported fuel costs of Rs 331.13 crore during the quarter.

Sequential Performance

On a quarter-on-quarter basis, consolidated net profit surged 193 percent from Rs 224.74 crore reported in the June quarter.

Revenue from operations increased 61 percent from Rs 1,394.38 crore, while total income climbed from Rs 1,428.78 crore to Rs 2,290.31 crore.

Total expenses increased from Rs 1,083.58 crore to Rs 1,410.31 crore during the same period.

Half-Year Results

For the first six months of FY27, SJVN reported consolidated net profit of Rs 882.46 crore, an increase of 65 percent from Rs 535.38 crore in the corresponding period last year.

Revenue from operations increased 87 percent to Rs 3,638.70 crore from Rs 1,949.85 crore.

Total income reached Rs 3,719.09 crore, compared with Rs 2,049.88 crore in the previous year.

Tariff Recognition

The company disclosed that quarterly revenue included Rs 242.59 crore relating to earlier years following a provisional tariff order for the Nathpa Jhakri Hydro Power Station.

Another Rs 40.42 crore relating to earlier periods was recognised following an interim tariff order for the Buxar Thermal Power Project.

Together, these amounted to Rs 283.01 crore of revenue relating to earlier periods.

Merger Proposal

SJVN's board also granted in-principle approval for the proposed merger of its wholly owned subsidiary, SJVN Thermal Private Limited, with the parent company.

The merger remains subject to government, statutory and regulatory approvals.

The statutory auditors highlighted certain tariff-related and project-related matters but did not modify their review conclusion.

Disclaimer: This report is based on unaudited financial results filed by the company and does not constitute investment advice.