Mumbai: Torrent Power Ltd reported a 39.9% year-on-year increase in consolidated net profit to ₹854.74 crore for the quarter ended December 31, 2025, aided by higher revenues and improved operating efficiencies. Revenue from operations rose 8.4% YoY to ₹6,636 crore. On a sequential basis, profit grew 14.5%, while revenue improved by 3.6%, showcasing robust quarterly performance momentum.
Strong Profitability Backed by Margin Expansion
Torrent Power’s total income for Q3 FY26 stood at ₹6,930 crore, up from ₹6,737 crore in Q2 and ₹6,370 crore in Q3 FY25. Total expenses eased 1.3% sequentially to ₹5,608 crore, helping expand margins. Profit before tax stood at ₹1,322 crore. With cost control measures and better realizations, net profit margin expanded to 12.9% from 9.9% a year earlier.
Sequential Performance Picks Up
Quarter-on-quarter, revenue rose by ₹228 crore, while net profit improved by ₹108 crore. EPS increased to ₹17.02 from ₹14.87 in Q2. Lower power purchase costs and administrative efficiencies contributed to improved profitability. Transmission and distribution revenues remained strong, and segment profitability from renewables and gas-based generation also supported the quarterly uptick.
Dividend and Funding Update
Torrent Power’s board approved an interim dividend of ₹15 per share for FY26, payable on or before March 12 to shareholders on record as of February 16. The board also cleared a ₹7,000 crore fundraise via non-convertible debentures (NCDs) through private placement, aimed at capital expenditure and refinancing.
Nine-Month Snapshot and Outlook
For the nine months ended December 2025, Torrent Power reported revenue from operations of ₹19,652 crore, up 7.9% YoY, while net profit surged 28.5% to ₹2,337 crore. The company’s stable performance across regulated and renewable segments continues to support cash flows and dividend payouts. With profitability trending upward and a solid capex plan, Torrent Power remains positioned for steady growth.
Disclaimer: This article is based on the company’s regulatory filing for Q3 FY26. It is for informational purposes only and does not constitute investment advice or a recommendation.
