Torrent Power announced a 48% increase in net profit for Q2 FY26. The growth was driven by higher contribution from merchant power sales from gas-based power plants, fueling the increase in Total Comprehensive Income. Revenue from Operations also saw a 10% increase compared to the previous year. The company also inaugurated a Green Hydrogen Plant in Gorakhpur.
Financial Performance Highlights
Torrent Power reported a significant increase in its financial performance for the second quarter of fiscal year 2026.
Key highlights include:
- Revenue from Operations: ₹7,876 Crs in Q2 FY26, a 10% increase from ₹7,176 Crs in Q2 FY25. For H1 FY26, Revenue was ₹15,782 Crs.
- EBITDA: ₹1,584 Crs in Q2 FY26, up 19% from ₹1,332 Crs in Q2 FY25. H1 FY26 EBITDA reached ₹3,171 Crs.
- Total Comprehensive Income (TCI): ₹730 Crs in Q2 FY26, representing a 48% surge from ₹492 Crs in Q2 FY25. H1 FY26 TCI amounted to ₹1,469 Crs.
Factors Driving Growth
The company’s strong operational performance was primarily attributed to a ₹238 Crs increase in Total Comprehensive Income (TCI) for the quarter, driven by:
- Increased contribution from merchant power sales, including LNG sales, from gas-based power plants.
- Reduction in finance costs, partially offset by increased depreciation due to capex and commissioning of additional renewable generation capacity.
Key Developments
During the quarter, Torrent Power achieved significant milestones including:
- Secured 1,600 MW Thermal Project: The company secured a Letter of Award from MP Power Management Company Limited for the long-term supply of power from a new 1,600 MW coal-based power plant at a tariff of ₹5.829 per kWh.
- Green Hydrogen Plant Inaugurated: The first Green Hydrogen Plant in Gorakhpur, developed by Torrent Power and Torrent Gas, was inaugurated. The plant has an annual production capacity of 72 TPA and represents India’s largest hydrogen-natural gas blending initiative within the City Gas Distribution sector.
Company Overview
Torrent Power has an aggregate installed generation capacity of 4,961 MWp. Renewable projects of ~3.6 GWp, pumped storage capacity of 3 GW and coal based power capacity of 1.6 GW are under development.
Source: BSE
