Torrent 'Power's up!

Torrent Power is very powerful on the bourses today morning, electrified by its Q1FY25 performance.

The company posted a 23% (YoY) jump in revenue from operations at Rs.9034 crore. EBITDA for the quarter rose 52% at Rs.1934 crore while net profit came in at a strong Rs.996 crore, up 87%.

The heat wave across the region naturally boosted the demand for power and what also helped was the increase in contribution from merchant power sales in gas-based power plants and also an increase in contribution from licensed distribution businesses.

The company has an aggregate installed generation capacity of 4,415 MWp comprising of 2,730 MW of gas-based capacity, 1,323 MWp of renewable capacity and 362 MW of coal based capacity. Further, Renewable projects of 3,077 MWp are under development. Total generation capacity, including projects under advanced stages of development, is 7,492 MWp.

The stock price has spiked up on these earnings, opening 10.5% higher at Rs.1724.45 and going on to hit a new life-time high at Rs.1779.95, up more than 14%.