For the quarter ended June 30, 2026, the company reported a net profit of ₹225 crore, marginally lower than ₹228 crore in the corresponding period last year. Revenue, however, surged 52% year on year to ₹1,394 crore, reflecting the contribution of newly commissioned thermal and renewable energy assets.
EBITDA rose 19% to ₹884 crore, but the operating margin narrowed sharply to 63% from 81% a year earlier, indicating that costs rose faster than revenue during the quarter.
Following the earnings announcement, the Navratna PSU stock slipped to an intraday low of ₹67.56. At 2:47 PM, the stock was trading at ₹68.31 on the NSE.
The latest performance builds on the company’s strong revenue momentum seen in the March quarter, when turnover nearly tripled year on year following the commissioning of the Buxar Thermal Power Project and several solar projects. Although that quarter ended in a net loss, management had attributed the significant increase in revenue to the expanding operational portfolio.
SJVN has also continued to strengthen its long-term growth pipeline. Last month, the company signed Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam Ltd (GUVNL) for the supply of green power from three hydroelectric projects being developed in Himachal Pradesh.
The agreements cover the 66 MW Dhaulasidh Hydroelectric Project, 210 MW Luhri Stage-I Hydroelectric Project and the 382 MW Sunni Dam Hydroelectric Project. Once commissioned, these projects are expected to provide a steady stream of renewable power to Gujarat under long-term supply arrangements.Also Read: Aditya Birla Capital Q1 Results: Lending, insurance lift profit 40%; AUM tops ₹7.5 lakh crore
The state-run utility has been steadily expanding beyond its traditional hydroelectric portfolio into thermal and renewable energy as it seeks to diversify its generation mix.
