Torrent Power Q2 results: revenue up 24% to Rs 9,801 crore, EBITDA up 26%

Torrent Power reported consolidated revenue from operations of Rs 9,801 crore for the quarter ended September 30, 2026 (Q2 FY27), up 24% from Rs 7,876 crore a year earlier, and EBITDA of Rs 1,988 crore, up 26%. The Torrent Power Q2 results were announced on November 4, 2026 in a media release filed with the exchanges.

Torrent Power Q2 results: key numbers

The company’s release reports total comprehensive income (TCI) rather than a net profit line. TCI is net profit plus other comprehensive income items. EBITDA means earnings before interest, tax, depreciation and amortisation; it is not profit.

Measure (Rs crore, consolidated)	Q2 FY27	Q2 FY26	Change
Revenue from operations	9,801	7,876	+24%
EBITDA	1,988	1,584	+26%
Total comprehensive income	835	730	+14%

For the first half (H1 FY27), revenue was Rs 17,926 crore against Rs 15,782 crore (+14%), EBITDA Rs 3,606 crore against Rs 3,171 crore (+14%), and TCI Rs 1,474 crore against Rs 1,469 crore.

Why Torrent Power’s earnings grew

The company said adjusted EBITDA grew 29%, driven by its distribution and renewable energy businesses and by the consolidation of the Nabha acquisition. Adjusted EBITDA includes Rs 54 crore of principal recovery related to Nabha, recognised in the balance sheet under lease accounting rules.

It reported incremental TCI of Rs 105 crore, attributed to better distribution performance, higher plant load factors and newly commissioned projects in renewables, and the Nabha contribution. Higher finance costs from increased borrowings partly offset this.

Capacity and customers

The company has 6.8 GWp of installed generation capacity: 2.7 GW gas, 2.3 GWp renewable and 1.8 GW coal. About 4.3 GWp of renewables, 3 GW of pumped storage and 1.6 GW of coal capacity are under development. It distributes nearly 31 billion units to about 4.29 million customers.

What to watch next

In our view, progress on the projects under development and the effect of higher borrowing costs on future earnings are worth following. See more results news on ArthaWire.