Government-owned power generation company SJVN reported a consolidated revenue from operations of ₹22.44 billion (~$236.38 million) in the second quarter (Q2) of the financial year (FY) 2027, a 117.4% year-over-year (YoY) increase from ₹10.32 billion (~$108.71 million).

The company’s net profit surged 113.7% YoY to ₹6.58 billion (~$69.31 million) from ₹3.08 billion (~$32.44 million).

Earnings per share (EPS) stood at ₹1.65 (~$0.017), compared to ₹0.7 (~$0.007) in the corresponding quarter of FY 2026.

SJVN’s total expenses more than doubled to ₹14.1 billion (~$148.53 million) from ₹6.58 billion (~$69.31 million) in the corresponding quarter last year. Fuel costs stood at ₹3.31 billion (~$34.87 million) during the quarter, compared to nil in the corresponding quarter last year.

1H FY 2027

For the first half (1H) of FY 2027, SJVN reported a consolidated revenue from operations of ₹36.39 billion (~$383.32 million), an 86.6% YoY increase from ₹19.5 billion (~$205.41 million).

Net profit rose 64.8% to ₹8.82 billion (~$92.91 million) from ₹5.35 billion (~$56.36 million).

EPS came in at ₹2.31 (~$0.024), compared to ₹1.35 (~$0.014) during the same period last year.

Business Highlights

SJVN said the implementation agreements for three hydroelectric projects in Himachal Pradesh, the 210 MW Luhri Stage-I, 382 MW Sunni Dam, and 66 MW Dhaulasidh projects remain unsigned.

The company has retained expenditure of ₹8.65 billion (~$91.12 million) under property, project and equipment/intangible assets and ₹33.51 billion (~$353.00 million) under capital work in progress relating to these projects.

SJVN also said that the survey and investigation work for the Devasari Hydro Electric Project in Uttarakhand remains on hold following directions issued by the Ministry of Power in July 2021.

The company has classified assets worth ₹7.39 billion (~$77.84 million) related to the 3,097 MW Etalin Hydroelectric Project as held for sale after the project was reassigned to NHPC.

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

In Q1 of FY 2027, SJVN clocked a consolidated revenue from operations of ₹13.94 billion (~$146.2 million), a 52% YoY increase from ₹9.17 billion (~$96.2 million).

SJVN Green Energy was one of India’s top utility-scale solar project developers in 2025, according to Mercom’s India Solar Market Leaderboard 2026.