Shares of Torrent Power Ltd skyrocketed 19% and hit a 52-week high of Rs 1,908 on 31 July after the company announced its quarterly earnings for April-June. 

The integrated power utility of the diversified Torrent Group reported a 87.2% year-on-year increase in net profit to Rs 996.3 crore for the quarter under review from Rs 532.3 crore reported in the same quarter of the previous fiscal year. 

The revenue from operations during the quarter climbed by 23.3% YoY to Rs 9,033.7 crore in Q1FY25 against Rs 7,327.6 crore reported in the corresponding period of the preceding fiscal.

At the operating level, the earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 56.8% YoY to Rs 1,857.9 crore against Rs 1,184.8 crore reported in the same quarter last year. The EBITDA margins during the quarter expanded by 440 basis points to 20.6% during Q1FY25 from 16.2% in Q1FY24. 

The Board of Directors of the company have also approved the sale of 100% equity shares of Torrent Electricals Private Ltd (TEPL) to Torrent Investments Private Ltd (TIPL) for a total consideration of Rs 85 crore. 

The company has a total installed generation capacity of 4,415 megawatt peak (MWp), which includes 2,730 megawatts (MW) of gas-based capacity, 1,323 MWp of renewable capacity, and 362 MW of coal-based capacity. Additionally, it has 3,077 MWp of renewable projects under development, bringing the total generation capacity to 7,492 MWp, including advanced-stage projects.

The company distributes approximately 30 billion units of electricity to over 4.13 million customers across regions in Gujarat, the Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD), Maharashtra, and Uttar Pradesh.

At 1:23 pm, the shares of Torrent Power were trading 17% higher at Rs 1,873.55 on NSE.

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