Torrent Power surges over 15% to hit 52-week high after robust Q1 results

In a stock exchange notification issued on Tuesday, Torrent Power said that its profit after tax (PAT) for Q1FY25 stood at ₹996 crore, up 87% compared to ₹532 crore in Q1FY24.

The company said that major reasons for higher net profit for the quarter was the increase in contribution from merchant power sales in gas-based power plants, increase in contribution from licensed distribution businesses and increase in tax expenses.

Revenue from operations stood at ₹9,034 crore in the June quarter, up 23% compared to ₹7,328 crore in Q1 FY24.

The company’s operating profit, or earnings before interest, tax, depreciation and amortisation (Ebitda), rose 52% to ₹1,934 crore in Q1FY25 compared to ₹ 1,270 crore in Q1FY24.

On Wednesday, the Torrent Power stock jumped as much as 15.3% to hit a fresh 52-week high of ₹1,846.4 apiece on the NSE. However, the stock pared early gains to trade 15.16% higher at ₹1,844 apiece at 10:54 am.

Over the past one year, the stock has skyrocketed nearly 160%.

Torrent Power also informed exchanges on Tuesday that the company has incorporated a wholly-owned subsidiary, Torrent Urja 18 Pvt Ltd. The new entity will deal in electricity generation from renewable energy.

The subsidiary has been created with an objective to deal in hydrogen, its byproducts and/or its derivatives or otherwise deal in all forms of non-conventional, renewable, green, hydro power, or any other sources of energy.

Torrent Power, the integrated power utility of the Torrent Group, is one of the largest companies in the country’s power sector with presence across the entire power value chain – generation, transmission and distribution.