REC, SJVN, Reliance Power, and others report Q2 results

Several power sector companies have released their unaudited financial results for the second quarter (Q2) of FY 2025-26, showing varied performance across the sector.

REC Limited posted a net profit of Rs 44.14 billion for Q2 FY 2025-26, up 9.3% from Rs 40.38 billion a year earlier. Total income rose 10.8% to Rs 151.53 billion, compared with Rs 136.82 billion in the same quarter last year.

SJVN Limited reported a 30.2% year-on-year (YoY) decline in net profit to Rs 3.08 billion, compared with Rs 4.41 billion in Q2 FY 2024-25. Revenue from operations remained stable at Rs 10.32 billion, down 0.6% YoY, while EBITDA increased 3% to Rs 8.60 billion, improving operating margins to 83.3% from 81.5%. The company appointed Sipan Kumar Garg as Chief Financial Officer and approved plans to raise up to Rs 10 billion through securitisation of the Nathpa Jhakri Project.

Reliance Power reported consolidated revenue of Rs 19.74 billion, up 12.2% YoY from Rs 17.60 billion. EBITDA rose 64.3% to Rs 6.18 billion, with margins improving to 31.3% from 21.4%. However, net profit fell sharply by 97% to Rs 0.87 billion, compared with Rs 28.78 billion a year earlier, which had included an exceptional gain of Rs 32.30 billion.

Saatvik Green Energy Limited reported revenue from operations of Rs 7.68 billion in Q2 FY 2025-26, a 61.6% YoY increase from Rs 4.75 billion in Q2 FY 2024-25. EBITDA rose to Rs 1.24 billion, up 39% YoY from Rs 0.88 billion, while profit before tax stood at approximately Rs 0.96 billion.

KEC International reported revenue of Rs 60.92 billion, up 19.1% YoY from Rs 51.13 billion. EBITDA grew 34.4% to Rs 4.30 billion, with margins rising to 7.1% from 6.3%. Net profit almost doubled to Rs 1.61 billion, up 88.2% from Rs 0.85 billion.

Kalpataru Projects saw revenue grow 56.8% YoY to Rs 7.94 billion, compared with Rs 5.06 billion in the same period last year. However, EBITDA dropped 81% to Rs 0.07 billion from Rs 0.35 billion, with margins falling to 0.8% from 7%. Net profit declined 81.9% to Rs 0.05 billion from Rs 0.30 billion.

Power Mech Projects reported revenue of Rs 12.38 billion, up 19.5% YoY from Rs 10.36 billion. EBITDA increased 18.9% to Rs 1.47 billion, while margins remained steady at 11.9%. Net profit rose 11.8% to Rs 0.75 billion, compared with Rs 0.67 billion in Q2 FY 2024-25.