New Delhi: SJVN Limited, a prominent public sector undertaking in the power sector, reported a 30 percent year-on-year decline in its consolidated net profit for the second quarter of FY26. The company posted a net profit of ₹307.80 crore in the July-September period, down from ₹439.90 crore during the same period last year, according to a filing with the stock exchanges.
The decline in profitability comes amid rising expenses and slightly lower total income. Total revenue for the quarter stood at ₹1,078.29 crore, compared with ₹1,108.43 crore in Q2 FY25. Total expenses rose sharply to ₹658.47 crore, up from ₹528.88 crore in the corresponding quarter of the previous fiscal year.
Fundraising Plan of ₹1,000 Crore Approved
In a move to bolster its financial position and support ongoing projects, SJVN announced that its board has approved raising funds of up to ₹1,000 crore. The fundraising will be executed through the securitisation of balance future revenue/return on equity (ROE) from the 1,500 MW Natpha Jhakri Hydro Electric Project, under the National Monetization Pipeline (NMP) program.
The company said this step will help it achieve its targets for FY26 and strengthen its infrastructure investments.
New Chief Financial Officer Appointed
The board of SJVN also approved the appointment of Sipan Kumar Garg as the new Chief Financial Officer (CFO). Garg has been serving as Director (Finance) at THDC India Ltd since August 17, 2024, and brings extensive experience in financial management and strategic planning to SJVN.
Outlook
Despite the decline in Q2 profitability, SJVN continues to focus on strategic investments, infrastructure expansion, and monetization of future revenues. The company aims to maintain steady growth and strengthen its position as a key player in India’s renewable energy sector.
About SJVN
SJVN Limited is a leading public sector undertaking under the Government of India, primarily engaged in hydropower and renewable energy generation. Established in 1988, the company operates several hydroelectric projects, including the Nathpa Jhakri Hydro Electric Project in Himachal Pradesh. SJVN plays a crucial role in contributing to India’s energy security and sustainable development goals.
