Torrent Power has posted a powerful performance for Q2FY16 and on the back of these numbers, the stock today hit a new 52-week of Rs.199.80, just a tad shy of Rs.200 mark. Volumes have jumped up significantly from 2 lakh trades on 2 week average to over 8 lakh today morning alone.

The company for Q2FY16, posted a net profit of Rs.246 crore , an almost 11 times jump from Rs.23 crore posted in Q2FY15. This jump somehow does not seem right when we see that topline has grown jusy 15% at Rs.3106 crore. But a look at the total costs and the story becomes clear – costs as a percentage of total revenue earned has dropped from 91% to 82% and this has gone a long way in shoring up the bottomline.

EBITDA for the quarter came in at Rs.780 crore, up two times. The 60% surge in other income at Rs.115 crore also helped. Consolidated net profit of Rs.468 crore for H1FY16 has already surpassed the full FY15 net profit of Rs.363 crore.

But strictly speaking, this YoY performance is not comparable as it is in the process of amalgamation Torrent Energy Limited (TEL) and Torrent Cables Limited (TCL) after approval from the Gujarat High Court in August. Yet, the bottomline remains that the company will end current fiscal on a bumper note!