TRIVENIPTTriveni Power Transmission Ltd.

Triveni Power Transmission Q2 FY27 Results: Consolidated Net Profit ₹26.06 Crore on Total Income of ₹119 Crore

Earnings
power transmission

Blacklitt Research23 October 20263 min read

High-voltage steel transmission towers and overhead power lines against a clear evening sky, with substation equipment and city buildings in the distance — Novoklimov, via Wikimedia Commons (CC0). Illustrative image.

Triveni Power Transmission (NSE: TRIVENIPT) reported consolidated total income of ₹119.28 crore and net profit of ₹26.06 crore for the quarter ended 30 Sep 2026, it said in a filing on 23 Oct 2026. Standalone total income was the same ₹119.28 crore, with net profit of ₹28.38 crore. The results follow the demerger of a power transmission business into the company under a composite scheme.

Key highlights

Consolidated

Including its subsidiaries

Total income: ₹119.28 crore, up 5.8% YoY and 61.2% QoQ
Net profit and EPS: ₹26.06 crore, down 20.9% YoY and up 78.9% QoQ; basic EPS ₹2.49 against ₹3.14 a year earlier
Profit before tax: ₹35.66 crore, down 21.3% YoY from ₹45.32 crore
Depreciation: ₹6.21 crore, up 31.0% YoY from ₹4.74 crore

Standalone

The company on its own, without its subsidiaries

Total income: ₹119.28 crore, up 5.8% YoY and 61.2% QoQ
Net profit and EPS: ₹28.38 crore, down 13.8% YoY and up 94.1% QoQ; basic EPS ₹2.71 against ₹3.14 a year earlier
Profit before tax: ₹37.99 crore, down 16.2% YoY from ₹45.32 crore
Tax expense: ₹9.60 crore against ₹12.40 crore a year earlier

Summary

Consolidated ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	119.28	112.78	+5.8%	74.00	+61.2%
Revenue from operations	116.16	109.92	+5.7%	72.63	+59.9%
Other income	3.12	2.86	+9.0%	1.38	+126.2%
	26.06	32.92	-20.9%	14.56	+78.9%
Profit before tax	35.66	45.32	-21.3%	19.51	+82.8%
Finance costs	0.04	0.25	-84.3%	0.04	-6.1%
Depreciation	6.21	4.74	+31.0%	6.00	+3.4%
Tax expense	9.60	12.40	-22.5%	4.94	+94.3%
Net profit margin	21.84%	29.19%	-7.35 pp	19.68%	+2.16 pp
EPS, basic (₹)	2.49	3.14	-20.7%	1.39	+79.1%

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.

Consolidated net profit fell 20.9% year on year while total income rose 5.8%. Revenue from operations grew 5.7% to ₹116.16 crore, and other income rose 9.0% to ₹3.12 crore, so the income base widened while profit before tax fell 21.3% to ₹35.66 crore.

Depreciation rose 31.0% to ₹6.21 crore, from ₹4.74 crore a year earlier, and finance costs fell to ₹0.04 crore from ₹0.25 crore. Finance costs are 0.0% of total income this quarter, so borrowing costs are not a material part of the cost base in this period.

Tax of ₹9.60 crore is 26.9% of consolidated profit before tax, against ₹12.40 crore a year earlier. Against the quarter before, net profit rose 78.9% on a 61.2% rise in total income, but the quarter before was lower than this one for both lines.

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	119.28	112.78	+5.8%	74.00	+61.2%
Revenue from operations	116.16	109.92	+5.7%	72.63	+59.9%
Other income	3.12	2.86	+9.1%	1.38	+126.4%
	28.38	32.92	-13.8%	14.62	+94.1%
Profit before tax	37.99	45.32	-16.2%	19.57	+94.2%
Finance costs	0.04	0.25	-84.3%	0.04	-6.1%
Depreciation	6.21	4.74	+31.0%	6.00	+3.4%
Tax expense	9.60	12.40	-22.5%	4.94	+94.3%
Net profit margin	23.80%	29.19%	-5.39 pp	19.76%	+4.04 pp
EPS, basic (₹)	2.71	3.14	-13.7%	1.40	+93.6%

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 13.8% to ₹28.38 crore, a smaller fall than the 20.9% decline in consolidated net profit. Standalone profit before tax fell 16.2% to ₹37.99 crore, against ₹35.66 crore on a consolidated basis.

The gap between the two sets of figures is ₹2.32 crore of net profit and ₹2.33 crore of profit before tax. The statement shows identical total income, revenue, finance costs, depreciation and tax expense in both natures, so the difference sits in the profit lines, and the filing does not explain it.

Standalone basic EPS is ₹2.71 against ₹2.49 consolidated, on the same 104,754,338 shares used for EPS in all periods.

Inference

The results record a capital reserve of ₹430.59 crore from vesting the transferred business, and 73,454,338 new shares of ₹2 each were issued to shareholders of Triveni Engineering & Industries Limited, taking the share count used for EPS to 104,754,338 from 31,300,000. The EPS figures therefore reflect the larger share base. The statutory auditors' limited review draws attention to the composite scheme and does not modify their conclusion on it.

The filing does not say why profit before tax fell year on year, what drove the revenue change, or whether any dividend will be declared, and it does not explain the ₹2.32 crore gap between consolidated and standalone net profit.

Reference: Original filing (PDF)

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Triveni Power Transmission Q2 FY27 Results: Consolidated Net Profit ₹26.06 Crore on Total Income of ₹119 Crore

Key highlights

Consolidated

Standalone

Summary

Inference

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