JSW Energy Q1 FY27 Results: Net Profit Falls 37% To ₹471 Crore As Finance Costs Rise; Key Numbers To Know

JSW Energy announced its Q1 FY27 results on Wednesday, July 22, reporting a sharp fall in quarterly profit as higher finance costs and depreciation from recently commissioned projects offset gains at the operating level.

The power producer posted a consolidated net profit of ₹471 crore for the April-June quarter, down 37% from ₹743 crore in the corresponding period last year. Revenue from operations, however, rose 1.2% year-on-year to ₹5,207 crore, compared with ₹5,143 crore a year ago.

Operating performance remained steady during the quarter. EBITDA increased 3% to ₹2,873 crore from ₹2,788 crore, while the EBITDA margin improved to 55.17% from 54.21% in the year-ago period.

The company said earnings were affected by a rise in depreciation and interest costs following the commissioning of new capacity and ongoing investments in expansion.

Depreciation for the quarter stood at ₹890 crore, significantly higher than a year ago as new projects became operational. Finance costs also moved up as borrowings increased to fund capacity additions, with the weighted average cost of debt, including working capital borrowings, at 8.36%.

JSW Energy Q1 FY27 Results: Capacity Additions Gather Pace

Expansion remained at the centre of JSW Energy's strategy during the quarter. Since April 2026, the company has commissioned 1,081 MW of operational capacity, of which 873 MW was added during the June quarter.

The new capacity includes 442 MW of solar, 108 MW of wind and 381 MW of hybrid projects. The company also completed the 150 MW Tidong hydro project on June 12, ahead of its earlier commissioning schedule.

To fund its expansion pipeline, JSW Energy raised ₹4,000 crore through a qualified institutional placement (QIP). It also unlocked ₹3,150 crore by monetising part of its investment in JSW Steel. Along with the earlier ₹3,000 crore preferential allotment to promoters, the company said these capital-raising initiatives have strengthened its balance sheet.

JSW Energy Q1 FY27 Results: Power Generation And Sales

Power sales for the quarter fell 5% year-on-year to 12.9 billion units, compared with 13.5 billion units in the same period last year.

Thermal generation declined to 8.0 billion units from 8.5 billion units, largely due to lower output from the Mahanadi plant. Renewable generation slipped to 4.8 billion units from 5.0 billion units, mainly because of weaker hydro generation amid lower water availability.

Net long-term power purchase agreement (PPA) sales also eased to 11.2 billion units, compared with 11.8 billion units a year earlier.

JSW Energy Share Price Today

Following the earnings announcement, JSW Energy shares were trading at ₹557.35 on the NSE, down 1.56%.

The company's operating performance remained resilient during the quarter, but the impact of higher borrowing costs and depreciation overshadowed earnings. Going forward, investors are expected to watch how quickly the newly commissioned capacity begins contributing to revenue and profitability, while also tracking the pace of further renewable capacity additions.

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