SJVN Q4 Profit Slumps Despite Higher Revenue; FY25 Revenue Up 19%

SJVN Q4 Profit Slumps Despite Higher Revenue; FY25 Revenue Up 19%

State-owned renewable energy SJVN Ltd reported a significant decline in fourth-quarter (Q4FY25) net profit despite a rise in revenue, while its full-year performance showed robust growth in top-line earnings.

Revenue from operations rose 4.5% to ₹5,044 crore in the January-March quarter from ₹4,829 crore in the previous quarter. However, total income fell 4.2% sequentially to ₹5,488 crore due to a sharp decline in other income.

Loss of ₹1,277 crore for Q4

The company reported a consolidated net loss of ₹1,277 crore for the quarter, compared with a net profit of ₹618 crore in the previous three-month period. The fall in profit was primarily driven by higher depreciation and finance costs.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter stood at ₹2,853 crore, down 13.9% from ₹3,313 crore in the October-December quarter.

For the financial year ended March 31, 2025, revenue from operations jumped 19% to ₹30,720 crore from ₹25,794 crore in the previous year. Total income rose 17.3% to ₹33,765 crore.

Net Profit For FY25-0.8%

Net profit for the year edged up 0.8% to ₹8,180 crore, compared with ₹8,114 crore in FY24. Despite the rise in revenue, higher interest and depreciation expenses curbed earnings growth.

EBITDA for FY25 was ₹25,255 crore, up 5.7% from ₹23,896 crore in the previous year. Depreciation costs increased by 21% to ₹6,762 crore, while finance costs surged 54% to ₹7,434 crore, reflecting a heavier debt load.

Total Expenses Climbed 

Total expenses for the year climbed to ₹22,705 crore from ₹17,767 crore, driven by higher employee benefits, borrowing costs and amortisation charges.

On the balance sheet side, total assets rose to ₹4,60,630 crore as of March 31, 2025, from ₹3,91,912 crore a year earlier. Long-term borrowings rose 33% year-on-year to ₹2,62,200 crore, indicating increased capital expenditure or project financing.

Equity share capital remained unchanged at ₹39,298 crore. Total equity attributable to shareholders rose marginally to ₹1,41,786 crore from ₹1,40,708 crore.

While SJVN posted a strong revenue performance for the year, the March quarter results highlight concerns over rising finance and depreciation costs, which significantly eroded profitability. The expansion in total assets suggests ongoing infrastructure projects that may improve returns in future periods.