Shares of Torrent Power hit a 52-week high of Rs 788.30 on 10 November after the company reported strong Q2 earnings.
The power and utility company reported a 9.2% year-on-year (YoY) increase in its net profit to Rs 525.9 crore for the quarter under review from Rs 481.7 crore reported in the year-ago quarter.
The company’s revenue from operation saw a 3.8% YoY growth to Rs 6,960.9 crore during the quarter from Rs 6,103.2 crore posted in the same quarter of the previous fiscal year.
The EBITDA (earnings before interest, taxes, depreciation, and amortisation) of the company during the quarter stood at Rs 1,221.4 crore, which is a 4.9% YoY growth from Rs 1,164.2 crore reported in Q2FY23.
The company has an approximate installed generation capacity of 4,287 megawatts, which comprises 2,730 megawatts of gas-based capacity, 1,195 megawatts of renewable capacity, and 362 megawatts of coal-based capacity.
Moreover, the power company has 953 megawatts of renewable projects under development. Total generation capacity, including projects under advanced stages of development, is 5,240 megawatts.
Torrent Power distributed nearly 28 billion units to over 4.03 million customers in Surat, Ahmedabad, Gandhinagar, Dholera SIR, and Dahej SEZ in Gujarat, Union Territory of Dadra and Nagar Haveli, and Daman and Diu. in the Maharashtra region, it distributes power in Bhiwandi, Mumbra, Shil, and Kalwa, and Agra in Uttar Pradesh.