Independent power producer JSW Energy reported revenue of ₹63.68 billion (~$669.73 million) in the second quarter (Q2) of the financial year (FY) 2027, up 23% year-over-year (YoY) from ₹51.77 billion (~$544.48 million).

Revenue from renewable energy operations increased 31.5% YoY to ₹25.32 billion (~$266.30 million) from ₹19.26 billion (~$202.56 million). Thermal operations reported revenue of ₹38.15 billion (~$401.23 million), up 17.7% YoY from ₹32.41 billion (~$340.86 million).

Renewable energy generation rose 21.4% YoY to 8,614 MUs from 7,094 MUs, supported by capacity additions and improved plant performance. Thermal generation rose 13.3% to 8,890 MUs from 7,845 MUs, driven mainly by higher generation from the Mahanadi and Utkal plants.

Profit after tax (PAT) rose 38.5% YoY to ₹11.41 billion (~$120 million) from ₹8.24 billion (~$86.66 million), driven by capacity expansion and improved operational performance.

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 22.9% YoY to ₹39.07 billion (~$410.91 million) from ₹31.80 billion (~$334.45 million).

Earnings per share (EPS) increased to ₹5.62 (~$0.059) from ₹4.04 (~$0.042) in the corresponding quarter last year.

Net generation increased 17.2% YoY to 17,504 MUs from 14,938 MUs.

First Half Results

For the first half (1H) of FY 2027, JSW Energy reported revenue of ₹115.75 billion (~$1.22 billion), up 12.4% YoY from ₹103 billion (~$1.08 billion).

EBITDA increased 12.4% YoY to ₹70.09 billion (~$737.15 million) from ₹62.37 billion (~$655.96 million).

PAT rose marginally to ₹16.74 billion (~$176.06 million) from ₹16.60 billion (~$174.59 million).

EPS stood at ₹8.22 (~$0.086), compared to ₹8.29 (~$0.087) in the corresponding period last year.

Net generation increased 6.8% YoY to 30,371 MUs from 28,432 MUs.

Business Highlights

JSW Energy added 813 MW of installed capacity during Q2 FY 2027, including 513 MW of renewable energy capacity.

During 1H FY 2027, the company added 1,686 MW of capacity, including 1,386 MW of renewable energy projects.

Its cumulative installed capacity reached 15,147 MW as of October 5, 2026, comprising 3,125 MW of wind, 2,426 MW of solar, 1,857 MW of hybrid, 1,781 MW of hydropower, and 5,958 MW of thermal power capacity.

Renewable energy accounted for 61% of the installed portfolio.

JSW Energy’s commercial and industrial (C&I) portfolio, including group captive projects, comprises an installed and under-construction capacity of approximately 8.6 GW. The company is in advanced discussions for an additional 2 GW of group captive opportunities and 900 MW of third-party C&I projects.

Its energy storage portfolio stood at 29.6 GWh, comprising 26.4 GWh of pumped hydro storage and 3.2 GWh of battery energy storage systems. The company is targeting 1 GWh of battery storage capacity by FY 2027 and 40 GWh of total storage capacity by 2030.

The company plans to commission another 1,606 MW of renewable energy capacity in the second half of FY 2027, taking its annual renewable capacity additions to approximately 3 GW.

The remaining capacity is spread across 30 projects, for which land, grid connectivity, transmission approvals, and long-term power purchase agreements have been secured.

JSW Energy is targeting an installed capacity of approximately 30 GW by 2030.

In Q1 FY 2027, JSW Energy reported a consolidated revenue of ₹54.37 billion (~$571.82 million), remaining largely flat from ₹54.11 billion (~$569.09 million) in the corresponding quarter of the previous year.