Torrent Power Q2 FY27 Results: Consolidated Net Profit ₹838 Crore on Total Income of ₹10,051 Crore
- Earnings
- power generation and distribution
Reviewed byKeshav SehgalBlacklitt Research
Torrent Power (NSE: TORNTPOWER) reported a consolidated total income of ₹10,050.79 crore and a consolidated net profit of ₹837.96 crore for the quarter ended 30 Sep 2026, it said in a filing on 04 Nov 2026. Standalone total income was ₹6,776.64 crore and standalone net profit ₹675.84 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹10,050.79 crore, up 26.4% YoY and 22.5% QoQ
- Net profit: ₹837.96 crore, up 13.0% YoY and 26.6% QoQ
- EPS: ₹16.28 basic, not annualised, against ₹14.36 a year earlier
- Finance costs: ₹439.19 crore, up 103.5% YoY, or 4.4% of total income
Standalone
The company on its own, without its subsidiaries
- Total income: ₹6,776.64 crore, up 7.7% YoY and 8.7% QoQ
- Net profit: ₹675.84 crore, down 9.4% YoY and up 15.1% QoQ
- EPS: ₹13.41 basic, not annualised, against ₹14.81 a year earlier
- Finance costs: ₹272.43 crore, up 65.7% YoY, or 4.0% of total income
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 10,050.79 | 7,953.91 | +26.4% | 8,204.81 | +22.5% | |
| Revenue from operations | 9,801.58 | 7,876.00 | +24.4% | 8,124.15 | +20.6% |
| Other income | 249.21 | 77.91 | +219.9% | 80.66 | +209.0% |
| 837.96 | 741.55 | +13.0% | 661.85 | +26.6% | |
| Profit before tax | 1,130.73 | 979.10 | +15.5% | 925.19 | +22.2% |
| Finance costs | 439.19 | 215.82 | +103.5% | 292.99 | +49.9% |
| Depreciation | 417.67 | 388.83 | +7.4% | 400.41 | +4.3% |
| Tax expense | 292.77 | 237.55 | +23.2% | 263.34 | +11.2% |
| Net profit margin | 8.34% | 9.32% | -0.99 pp | 8.07% | +0.27 pp |
| EPS, basic (₹) | 16.28 | 14.36 | +13.4% | 12.68 | +28.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The notes give a consolidated debt equity ratio of 0.97 and standalone of 0.77 as at 30 Sep 2026, and consolidated net worth of ₹20,922.06 crore. Dividends paid in the six months were ₹260.56 crore consolidated and ₹251.95 crore standalone.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 6,776.64 | 6,293.99 | +7.7% | 6,231.93 | +8.7% | |
| Revenue from operations | 6,542.81 | 6,106.26 | +7.1% | 6,048.71 | +8.2% |
| Other income | 233.83 | 187.73 | +24.6% | 183.22 | +27.6% |
| 675.84 | 746.16 | -9.4% | 587.15 | +15.1% | |
| Profit before tax | 879.87 | 963.32 | -8.7% | 805.49 | +9.2% |
| Finance costs | 272.43 | 164.37 | +65.7% | 206.75 | +31.8% |
| Depreciation | 270.00 | 266.20 | +1.4% | 271.28 | -0.5% |
| Tax expense | 204.03 | 217.16 | -6.0% | 218.34 | -6.6% |
| Net profit margin | 9.97% | 11.86% | -1.88 pp | 9.42% | +0.55 pp |
| EPS, basic (₹) | 13.41 | 14.81 | -9.5% | 11.65 | +15.1% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit fell 9.4% YoY to ₹675.84 crore while total income rose 7.7%. Profit before tax fell 8.7% to ₹879.87 crore, and tax expense fell 6.0% to ₹204.03 crore. Other income of ₹233.83 crore, up 24.6%, is 26.6% of profit before tax.
Standalone finance costs rose 65.7% to ₹272.43 crore, and depreciation was almost flat at ₹270.00 crore. Standalone net profit rose 15.1% from the quarter ended 30 Jun 2026, against 8.7% growth in total income over the same period.
The standalone statement does not separately disclose segment information; the notes say segment information is given in the consolidated results under Ind AS 108.
Inference
The filing reports the Nabha Power acquisition, completed on 25 Jun 2026 for ₹3,632.35 crore, and says its provisional fair value of net assets is ₹4,390.16 crore with purchase price allocation in progress.
The filing does not give the dividend declared for the quarter, the reason for the rise in consolidated other income, the final purchase price allocation or any goodwill, or the reason for the change in standalone other comprehensive income; these are not known from the text read.
Filed with BSE on . Reference: Original filing (PDF)
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