Torrent Power Q2 Profit Jumps Nearly 50 % to ₹ 742 Cr

Torrent Power on Tuesday posted nearly 50 % jump in consolidated net profit to ₹ 741.55 crore for September quarter FY26, mainly on the back of higher revenues from generation business.

The company had a net profit of ₹ 495.72 crore in the quarter ended September 30, 2024, according to a regulatory filing.

Total income rose to ₹ 7,953.91 crore in the quarter from ₹ 7,300.51 crore in the same period a year ago. Revenue from generation business rose to ₹ 2,420.92 crore from ₹ 1,833.55 crore a year ago.

During the quarter, revenue from transmission and distribution business dipped to ₹ 6,367.83 crore from ₹ 6,596.61 crore in Q2FY25.

Revenues from renewables increased to ₹ 326.62 crore in the quarter from ₹ 291.15 crore a year ago.

The strong operational performance contributing to a higher TCI (total comprehensive income) of ₹ 238 crore for the quarter is primarily attributable to a rise in contribution from merchant power sales, including LNG sales, from gas-based power plants, as well as a reduction in finance cost, partially offset by increase in depreciation costs due to Capex and commissioning of additional renewable generation capacity.

Torrent Power, the ₹ 29,165 crore integrated power utility of about ₹ 45,000 crore Torrent Group, is one of the largest companies in the country's power sector with presence across the entire power value chain - generation, transmission and distribution.

The company has an aggregate installed generation capacity of 4,961 MWp, comprising 2,730 MW of gas-based capacity, 1,869 MWp of renewable capacity and 362 MW of coal-based capacity.

Further, renewable projects of 3.6 GWp, pumped storage capacity of 3 GW and coal-based power capacity of 1.6 GW are under development.

Total generation and Pumped Storage capacity, including projects under development, is 10.13 GWp and 3 GW, respectively, positioning as a key player in India's energy transition.

The company distributes nearly 31 billion units to around 4.21 million customers in cities - Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat, Union Territory of Dadra and Nagar Haveli and Daman and Diu, Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.