Gujarat-based Torrent Power‘s revenue from operations increased 10% year-over-year (YoY) to ₹78.76 billion (~$888.76 million) in the second quarter (Q2) of the financial year (FY) 2026.

Its earnings before interest, tax, depreciation, and amortization (EBITDA) for the quarter also went up by 19% to ₹15.84 billion (~$178.73 million).

Torrent’s total comprehensive income increased by 48% to ₹7.3 billion (~$82.37 million).

The improved performance was due to the rise in contributions from merchant power sales, including LNG sales, from gas-based power plants. The reduction in finance cost, partially offset by an increase in depreciation costs due to capex and commissioning of additional renewable generation capacity, also led to the rise.

During the quarter, Torrent Group’s first green hydrogen plant in Gorakhpur, developed by Torrent Power and Torrent Gas, with an annual production capacity of 72 TPA, was inaugurated.

In Q2, the company’s solar assets achieved a plant load factor of 16%, and wind reached 30.1%, compared to 13.4% and 32.3%, respectively, in Q2 FY25.

Torrent’s installed capacity includes 949 MW of solar and 921 MW of wind. The company’s total capacity, including pipeline projects, comprises 2,670 MW of solar and 2,770 MW of wind.

1H FY 2026

Torrent’s revenue from operations decreased 3% YoY to ₹157.82 billion (~$1.78 billion) in the first half (1H) of FY 2026.

Its EBITDA for the period also fell by 3% to ₹31.71 billion (~$357.81 million).

Torrent’s total comprehensive income decreased by 1% to ₹14.69 billion (~$165.75 million).

The decline in 1H figures can be attributed to a weaker first quarter, which was impacted by lower power demand following the early onset of the monsoon and elevated gas prices, resulting in reduced merchant gains from gas-based generation.

Solar assets achieved a plant load factor of 18.9%, and wind reached 30.8%, compared to 15.9% and 30.4%, respectively, in the same period of the previous year.

The company has an aggregate installed generation capacity of 4,961 MW, comprising 2,730 MW of gas-based capacity, 1,869 MW of renewable capacity, and 362 MW of coal-based capacity. Furthermore, Renewable projects of approximately 3.6 GW, pumped storage capacity of 3 GW, and coal-based power capacity of 1.6 GW are currently under development. Total generation and pumped storage capacity, including projects under development, are approximately 10.13 GW and 3 GW, respectively.

In August, Torrent issued a request for selection to procure 200 MW of firm and dispatchable renewable energy, along with an energy storage system, and a greenshoe option of 100 MW.