SJVN Limited reported consolidated revenue from operations of ₹2,244.32 crore in Q2 FY27, up 117.5% year on year (YoY). Consolidated profit after tax (PAT) increased to ₹657.72 crore, compared with ₹307.60 crore in the corresponding quarter of the previous financial year. The quarter ended on 30 September 2026. The company’s Board of Directors approved the unaudited standalone and consolidated financial results on 30 October 2026.
SJVN’s Q2 FY27 Earnings
| Financial Metric | Q2 FY27 | Q2 FY26 | YoY Change |
|---|---|---|---|
| Consolidated revenue from operations | ₹2,244.32 crore | ₹1,032.40 crore | +117.5% |
| Consolidated profit after tax (PAT) | ₹657.72 crore | ₹307.60 crore | +113.8% |
SJVN reported more than double the consolidated revenue and PAT year on year. Revenue growth included ₹242.59 crore relating to earlier years for the Nathpa Jhakri Hydro Power Station, recognised following the provisional tariff order for 2024–29. It also included ₹40.42 crore relating to earlier periods for the Buxar Thermal Power Project following an interim tariff order.
Business Performance & Key Metrics
| Operating Metric | Q2 FY27 | Previous Period / Reference |
|---|---|---|
| Consolidated revenue from operations | ₹2,244.32 crore | +117.5% YoY |
| Consolidated PAT | ₹657.72 crore | +113.8% YoY |
| Total consolidated income | ₹2,290.31 crore | ₹1,078.29 crore in Q2 FY26 |
| Profit before tax and share of joint ventures | ₹882.03 crore | ₹421.90 crore in Q2 FY26 |
| Finance costs | ₹488.10 crore | ₹315.10 crore in Q2 FY26 |
| Operating margin | 61.05% | 71.39% in Q2 FY26 |
| Net profit margin | 29.31% | 25.81% in Q2 FY26 |
| Earnings per share (including regulatory deferral account movement) | ₹1.68 | ₹0.78 in Q2 FY26 |
SJVN’s consolidated revenue increased during the quarter, while finance costs also rose year on year. The operating margin declined compared with Q2 FY26, whereas the net profit margin increased. The company operates primarily in the generation and sale of power segment. Its results also include contributions from subsidiaries and a joint venture.
Share Price Reaction After Q2 FY27 Results
| Results Metric | Value |
|---|---|
| Results announcement date | 30 October 2026 |
| Consolidated PAT | ₹657.72 crore |
| PAT growth YoY | +113.8% |
| Revenue growth YoY | +117.5% |
| NSE closing share price | ₹51.68 |
| Share price movement | -1.37% |
| Earnings call | No confirmed Q2 FY27 schedule identified in the official disclosures reviewed |
SJVN’s shares closed lower on 30 October 2026 despite the increase in consolidated revenue and PAT. The financial results showed higher income from operations, along with increased finance costs and a decline in operating margin. Investors will focus on power generation, tariff realisations, project execution, finance costs, regulatory developments and capacity additions in subsequent quarters.
SJVN vs Other Power Sector Stocks
| Company | Revenue / Total Income (Q2 FY27) | PAT (Q2 FY27) | PAT Growth YoY |
|---|---|---|---|
| SJVN | ₹2,244.32 crore (consolidated revenue from operations) | ₹657.72 crore (consolidated) | +113.8% |
| NTPC | Results awaited | Results awaited | — |
| NHPC | Results awaited | Results awaited | — |
| Power Grid Corporation of India | Results awaited | Results awaited | — |
Peer results for NTPC, NHPC and Power Grid Corporation of India were not available in the official sources reviewed at the time of writing. NTPC had scheduled its Q2 FY27 results discussion for 31 October 2026, while NHPC had scheduled its board meeting to consider the September-quarter results for 4 November 2026. Power sector comparisons should use a consistent basis, either consolidated revenue from operations and PAT or standalone figures, rather than mixing the two.
SJVN’s Quarterly Financial Performance
| Quarter | Revenue from Operations | PAT | Growth Highlight |
|---|---|---|---|
| Q2 FY27 | ₹2,244.32 crore (consolidated) | ₹657.72 crore (consolidated) | Revenue +117.5% YoY; PAT +113.8% YoY |
| Q1 FY27 | ₹1,394.38 crore (consolidated) | ₹224.74 crore (consolidated) | Revenue +35.1% YoY; PAT -27.0% YoY |
| Q2 FY26 | ₹1,032.40 crore (consolidated) | ₹307.60 crore (consolidated) | Base quarter for YoY comparison |
SJVN reported sequential growth in consolidated revenue and PAT in Q2 FY27 compared with Q1 FY27. Revenue increased from ₹1,394.38 crore to ₹2,244.32 crore, while PAT rose from ₹224.74 crore to ₹657.72 crore. The year-on-year increase also reflects the recognition of earlier-period tariff amounts during the September quarter.
Key Takeaways from SJVN Q2 FY27 Results
- Consolidated revenue from operations: ₹2,244.32 crore, up 117.4% YoY.
- Consolidated PAT: ₹657.72 crore, up 113.8% YoY.
- Total consolidated income: ₹2,290.31 crore.
- Profit before tax and share of joint ventures: ₹882.03 crore.
- Finance costs: ₹488.10 crore, compared with ₹315.10 crore in Q2 FY26.
- Operating margin: 61.05%, compared with 71.39% in Q2 FY26.
- Net profit margin: 29.31%, compared with 25.81% in Q2 FY26.
- Earlier-period tariff recognition: ₹242.59 crore for Nathpa Jhakri and ₹40.42 crore for the Buxar Thermal Power Project.
- Earnings per share: ₹1.68, including net movement in regulatory deferral account balances.
- Key metrics to track: power generation, revenue growth, tariff realisations, operating margins, finance costs, project execution and capacity additions.
Disclaimer
The information provided above is for informational and educational purposes only and should not be construed as investment advice, a recommendation to buy or sell shares, or a guarantee of future performance. The financial results, operational metrics and peer comparisons are based on information available as of 30 October 2026 and may be subject to revisions or updates. Investors should refer to SJVN official disclosures, investor presentation and BSE/NSE filings for the latest information.
