Torrent Power Q2 FY26 Earnings Results: Profit Surges 50% on Strong Merchant Power Sales

Torrent Power posted a strong performance in Q2FY26, reporting a consolidated net profit of ₹723.7 crore, up 50.5% from ₹481.03 crore in the same quarter last year. The company said the sharp rise came mainly from higher merchant power sales from its gas-based plants and lower financial costs.

Revenue from operations rose 9.7% year-on-year to ₹7,876 crore, compared with ₹7,176 crore in Q2FY25.

Ebitda improved to ₹1,584 crore, up 19% from ₹1,332 crore last year. The Ebitda margin also strengthened to 20.1%, compared with 18.6% a year earlier, showing better operating performance.

Key Developments

Torrent Power announced 2 major updates during the quarter.

• It signed an agreement with MP Power Management Company Limited for long-term power supply from a new 1,600 MW coal-based plant in Madhya Pradesh.
• The company also commissioned the Torrent Group’s first green hydrogen plant in Gorakhpur. Built with Torrent Gas, this unit can produce 72 tonnes per annum and is currently India’s largest hydrogen natural-gas blending project in the city gas distribution sector.

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Conclusion

Torrent Power delivered a strong quarter with solid profit growth and better margins. Higher merchant power sales, lower financing costs, and new clean energy initiatives signal steady momentum for the company in the coming quarters.

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