SJVN Limited reported a robust performance for the quarter ended December 31, 2025 (Q3 FY26), delivering strong year-on-year growth across key financial metrics, driven by a sharp rise in revenue from operations.
Revenue from operations surged to ₹1,081.97 crore in Q3 FY26, compared to ₹670.99 crore in Q3 FY25, registering an impressive growth of 61.25% YoY. The significant increase in operational revenue highlights improved generation performance and better realisations during the quarter. However, other income declined sharply by 52.7% YoY to ₹42.50 crore from ₹89.77 crore in the corresponding quarter last year.
Despite the drop in other income, total income rose 47.82% YoY to ₹1,124.47 crore as against ₹760.76 crore in Q3 FY25, reflecting strong core business momentum.
On the cost front, total expenses increased 24.32% YoY to ₹705.25 crore from ₹567.28 crore. The rise in expenses was primarily led by higher finance costs and depreciation charges, in line with capacity additions and operational scaling. However, expense growth remained significantly lower than revenue growth, supporting margin expansion.
Profit before tax (PBT) before exceptional items more than doubled, rising 116.3% YoY to ₹421.00 crore compared to ₹194.62 crore in the year-ago quarter. This sharp improvement indicates strong operating leverage during the quarter.
Total tax expense also increased substantially to ₹132.50 crore from ₹40.16 crore in Q3 FY25, reflecting higher profitability. After accounting for taxes and regulatory adjustments, net profit for the quarter stood at ₹224.31 crore, up 50.8% YoY from ₹148.75 crore reported in the same period last year.
