Torrent Power reported a 30 per cent rise in total comprehensive income for the third quarter ended 31 December 2025, supported by stronger performance in gas-based generation, distribution operations and renewables. The Board approved an interim dividend of Rs 15 per equity share, equivalent to 150 per cent.
Total comprehensive income stood at Rs 637 crore in Q3 FY26, compared with Rs 490 crore in the corresponding quarter last year. For the nine months ended 31 December 2025, total comprehensive income rose 7 per cent to Rs 2,106 crore from Rs 1,974 crore a year earlier.
Revenue from operations during the quarter increased 4 per cent to Rs 6,778 crore, against Rs 6,499 crore in Q3 FY25. For the nine-month period, revenue stood at Rs 22,560 crore, marginally lower than Rs 22,709 crore in the previous year.
Earnings before interest, tax, depreciation and amortisation rose 15 per cent year-on-year to Rs 1,472 crore in the quarter, compared with Rs 1,284 crore in Q3 FY25. For the nine months, EBITDA rose 2 per cent to Rs 4,644 crore.
The company attributed the Rs 147 crore year-on-year rise in quarterly total comprehensive income to higher contribution from gas-based power plants and improved operational performance in its licensed and franchised distribution businesses. The renewable energy segment also recorded better operational output, though this was partly offset by higher interest and depreciation costs. In the year-ago quarter, the company had recognised gains from sale of non-current investments.
10 Year LNG Agreement
During the quarter, Torrent Power entered into a 10-year liquefied natural gas sale and purchase agreement with Japan’s JERA for supply of up to 0.27 million metric tonnes per annum from 2027.
The fuel will be used to operate the company’s 2,730 MW gas-based power plants, which are positioned to meet rising demand, support peak load requirements and balance renewable generation. The agreement will also provide gas supply to Torrent Gas Ltd. for households, commercial establishments, industrial consumers and compressed natural gas vehicles.
The arrangement strengthens the company’s long-term fuel security and supports its integrated energy portfolio at a time of rising electricity demand.
Generation And Distribution Footprint
Torrent Power, part of the Rs 45,000 crore Torrent Group, reported consolidated revenue of Rs 29,165 crore. It has an aggregate installed generation capacity of 5,039 MWp, comprising 2,730 MW of gas-based capacity, 1,947 MWp of renewable capacity and 362 MW of coal-based capacity. Renewable projects of about 4.0 GWp, pumped storage capacity of 3 GW and coal-based capacity of 1.6 GW are under development.
Including projects under development, total generation capacity stands at about 10.64 GWp, along with 3 GW of pumped storage capacity.
In distribution, the company supplies nearly 31 billion units to around 4.21 million customers across Gujarat, the Union Territory of Dadra and Nagar Haveli and Daman and Diu, parts of Maharashtra and Agra in Uttar Pradesh. In its licensed areas in Gujarat, the company continues to report among the lowest distribution losses and strong reliability indices in the country.
With improved earnings in the quarter and a long-term fuel supply agreement in place, Torrent Power appears positioned to manage demand growth while advancing its renewable and flexible generation portfolio. |
