Shares of Torrent Power surged 7 per cent to Rs 535 on the BSE in Thursday’s intra-day trade, in an otherwise weak market, after the company reported a robust performance for the quarter ended September 2021 (Q2FY22).
The stock of the electric utility company was trading close to its record high level of Rs 544.80, touched on October 12, 2021. In comparison, the S&P BSE Sensex was down 0.96 per cent at 60,557 points. Trading volumes on the counter more-than-doubled with a combined 3.1 million shares have changed hands on the NSE and BSE until the writing of this report.

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For Q2FY22, Torrent Power’s revenue from operations grew 17 per cent year-on-year (YoY) at Rs 3,648 crore. Earnings before interest, tax, depreciation and amortization (Ebitda) were up 30 per cent YoY at Rs 974 crore, while margins improved 279 basis points to 26.7 per cent during the quarter. Profit after tax jumped 82 per cent to Rs 369 crore from Rs 202 crore in the year-ago quarter.