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Shares of JSW Energy plunged as much as 8% to their day’s low of Rs 512 on the BSE on Tuesday after it reported a consolidated net profit of Rs 574 crore for the March quarter, marking a 38% increase from Rs 414 crore recorded in the same period last year.

Revenue from operations rose sharply by 41% year-on-year to Rs 4,499 crore in Q4FY26, compared with Rs 3,189 crore in the corresponding quarter of the previous financial year. The company’s board has recommended a dividend of Rs 2 per equity share and fixed Friday, June 5, as the record date to identify shareholders eligible for the payout.

On a sequential basis, profit after tax grew 8% from Rs 529 crore reported in Q3FY26, while revenue increased 10% quarter-on-quarter from Rs 4,082 crore in the October-December quarter.

Total expenses during the quarter stood at Rs 4,666 crore, higher than Rs 4,366 crore in Q3FY26 and Rs 3,142 crore in Q4FY25. This reflects a rise of 7% sequentially and 48% on a yearly basis. The increase in expenditure was driven by higher fuel costs, employee expenses and finance costs, among other factors.

Power sales volume climbed 48% year-on-year to 11.7 billion units (BUs) from 7.9 BUs. Renewable energy generation rose 68% to 2.9 BUs from 1.7 BUs a year ago, while thermal generation increased 43% to 8.8 BUs from 6.2 BUs.

Generation under long-term power purchase agreements (PPAs) grew 25% year-on-year to 8.6 BUs from 6.9 BUs. Short-term PPA generation surged 201% to 3.1 BUs, compared with 1.0 BU in the year-ago period.
JSW Energy’s cash and cash equivalents stood at Rs 10,013 crore during the quarter, reflecting a strong liquidity position. The company reported a net debt-to-equity ratio of 2.1x, while operational net debt-to-EBITDA stood at 5.2x.EBITDA for Q4FY26 jumped 72% year-on-year to Rs 2,602 crore from Rs 1,512 crore reported in the corresponding quarter last year.

JSW Energy shares are up 9.5% in the last 1 month and about 15% in the last 1 year.

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The shares of Vodafone Idea dropped nearly 4% after the telecom giant issued a clarification on a report claiming that its parent Vodafone Plc plans to transfer part of its stake to the company itself, which had sparked an 8% rally in the share price yesterday.

UK-based Vodafone Plc, which owns a 19% stake in Vodafone Idea, was considering transferring part of its shareholding to the company itself for the Indian telco to hold in its treasury, Bloomberg reported, citing people familiar with the matter. It added that the share transfer would take place instead of Vodafone injecting more cash into the Indian business.

The company’s shares sharply rallied more than 8% on Monday despite the overall stock market crash following the report, which claimed that the move could boost the balance sheet of the loss-making Vodafone Idea, and help its current efforts to raise debt.

Vodafone Idea’s clarification

After exchanges sought clarification from Vodafone Idea following the sharp surge in share price, the company said that it has not yet received any communication related to this from the Vodafone Group.

Vodafone Idea said that the report may possibly be referring to disclosures already made in December last year about the Contingent Liability Adjustment Mechanism (CLAM) arrangement. As part of the December exchange filing, which the company reshared yesterday, Vodafone Idea had announced that it amended a major agreement with its UK-based parent company to secure the recovery of nearly Rs 5,836 crore linked to liabilities arising from the 2017 Vodafone-Idea merger.
Vodafone Idea share priceVodafone Idea shares have seen a significant surge recently, jumping 10% in one week and 28% in one month. Shares of the telecom company are up more than 2% in 2026 so far.

In the longer term, the stock jumped over 67% in one year, 69% in three years and more than 34% in five years. The company currently has a market capitalisation of more than Rs 1.26 lakh crore.

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