Torrent Power shares declined 4% on Wednesday following the announcement of mixed fourth-quarter earnings results. According to reports from Business Standard, the stock was trading at ₹1,482.6, down 4% from the previous session's close of ₹1,597.60 as of 11:05 AM. The benchmark NSE Nifty50 index was trading at 23,405 levels, up by 25.85 points or 0.11% during the same period.
The Gujarat-based integrated power utility company reported a consolidated net profit of ₹318.2 crore, representing a 70% year-on-year decline from ₹1,060 crore in the corresponding quarter of the previous fiscal year. As reported by Business Standard, revenue for the March 2026 quarter declined marginally to ₹6,406 crore compared to ₹6,456 crore in the corresponding quarter of the previous fiscal. However, earnings before interest, tax, depreciation, and amortisation (Ebitda) grew 1.7% to ₹1,149.3 crore compared to ₹1,130.5 crore, with Ebitda margins improving to 17.9% from 17.5%.
The company's generation segment emerged as the key drag on performance, reporting an EBIT loss of ₹38.9 crore against an EBIT profit of ₹233.8 crore in the corresponding quarter last year, according to Business Standard reports. Torrent Power attributed the generation weakness to higher interest and depreciation expenses driven by increased project implementation activity, while the gas-based generation business remained under pressure amid a volatile gas market and dynamic power demand environment. The company noted that its licensed and franchised distribution businesses delivered improved operational performance during the quarter, while the renewable energy segment continued to remain resilient.
Looking ahead, Torrent Power expects its operational capacity to expand significantly from 5.1 GWp to 10.6 GWp going forward, as reported by Business Standard. Despite the current quarter's challenges, the company's final dividend of ₹5 per equity share for fiscal year 2026 brings the total dividend for FY26 to ₹20 per equity share, comprising an interim dividend of ₹15 per equity share and a final dividend of ₹5 per equity share. The company's market capitalisation stood at ₹74,613 crore, with its 52-week high at ₹1,824 and 52-week low at ₹1,188.
