Torrent Power Ltd on Thursday (November 9) reported a 9.2% year-on-year (YoY) increase in net profit at ₹525.9 crore for the second quarter that ended September 30, 2023.

In the corresponding quarter last year, Torrent Power posted a net profit of ₹481.7 crore, the company said in a regulatory filing. The company's revenue from operations increased 3.8% to ₹6,960.9 crore against ₹6,703.2 crore in the corresponding period of the preceding fiscal.

At the operating level, the EBITDA spiked 4.9% to ₹1,221.4 crore in the second quarter of this fiscal over ₹1,164.2 crore in the year-ago period.

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The EBITDA margin stood at 17.6% in the reporting quarter versus 17.4% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The company has an aggregate installed generation capacity of 4,287 MW comprising 2,730 MW of gas-based capacity, 1,195 MW of renewable capacity, and 362 MW of coal-based capacity.

Further, renewable projects of 953 MW are under development. Total generation capacity, including projects under advanced stages of development, is 5,240 MW.

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The company distributes nearly 28 billion units to over 4.03 million customers in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ, and Dholera SIR in Gujarat, Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD); Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.

The results came after the close of the market hours. Shares of Torrent Power Ltd ended at ₹756.90, up by ₹4.60, or 0.61%, on the BSE.

(Edited by : Shoma Bhattacharjee)