Torrent Power Ltd. delivered a mixed Q1 FY27 performance with consolidated net profit declining 11% to ₹662 crore compared to ₹742 crore in the corresponding quarter last year. Despite the earnings decline, the company showed resilience with revenue from operations rising 3% year-on-year to ₹8,124 crore from ₹7,906 crore in the previous year. The revenue growth reflects stable business momentum across the company's power generation, transmission and distribution operations. EBITDA increased 2% to ₹1,538 crore, compared with ₹1,483 crore in the year-ago period, indicating improved operating profitability at the margin level. The operating margin remained broadly unchanged at 19%, demonstrating stable cost management despite challenging operating conditions. As per Business Standard, the net profit drop was primarily attributed to elevated electrical energy costs, geopolitical disruptions affecting LNG supplies, and higher finance costs arising from increased borrowings to fund projects currently under construction.
A key strategic milestone during the quarter was the completion of the ₹3,632 crore acquisition of Nabha Power Ltd., which became a wholly owned subsidiary on June 25, 2026. Nabha Power operates a 2x700 MW coal-based supercritical thermal power plant in Punjab, supplying electricity under long-term power purchase agreements with Punjab State Power Corporation Ltd. The acquisition strengthens Torrent Power's portfolio and positions the company for long-term growth as India's power demand continues to rise. The company currently has an installed generation capacity of 6.6 GW, comprising 2.7 GW of gas-based capacity, 2.1 GW of renewable capacity and 1.8 GW of coal-based capacity. The company has ambitious expansion plans including 4.2 GW of renewable projects, 3 GW of pumped storage capacity, and an additional 1.6 GW of coal-based capacity.
Distribution remained a bright spot with EBITDA from the segment growing 10%, while the renewable energy business recorded 6% EBITDA growth, supported by higher plant load factors and contributions from projects commissioned during the previous financial year. According to Business Standard, stronger execution across the distribution network and renewable energy portfolio helped cushion the impact of challenging operating conditions. The company's integrated business model spans the entire power value chain from generation to distribution, positioning it as a comprehensive utility player in the Indian power sector with an installed generation capacity of 3,703 MW and distributing over 16.6 billion units of electricity annually across multiple licensed areas. The June quarter was marked by improved operational performance across distribution businesses and renewable portfolio, driven by higher plant load factors and contributions from projects commissioned during the previous year.
Torrent Power shares closed 1.3% lower at ₹1,394.40 on the National Stock Exchange ahead of the earnings announcement. The stock has shown mixed performance with gains of 0.31% in the past month, 1.82% over the past six months, 8.59% on a year-to-date basis and 7.07% over the past year. The stock touched a 52-week high of around ₹1,824.10 and a 52-week low of around ₹1,188.00 on the NSE. In anticipation of the upcoming results, the trading window for dealing in securities shall remain closed for designated persons/insiders including their immediate relatives from Wednesday, July 01, 2026 till 48 hours after declaration of unaudited standalone financial results of the company for the quarter ended June 30, 2026.
