In the first quarter (Q1) of the financial year (FY) 2024-25, Gujarat-based Torrent Power reported a net profit of Rs 9.96 billion, which represented an 87 per cent increase compared to Rs 5.32 billion from the same period the previous year.

The company announced that its revenue reached Rs 90.34 billion, reflecting a 23 per cent year-over-year rise from Rs 73.28 billion.

The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew by 52 per cent, reaching Rs 19.34 billion, up from Rs 12.7 billion in the corresponding quarter of the previous year.

The significant increase in net profit was attributed to multiple factors, including enhanced contributions from merchant power sales in gas-based power plants and improved operational efficiency. Additionally, higher contributions from the company's licensed distribution businesses were identified as key factors.

Torrent Power's annual revenue for FY 2024 amounted to Rs 271.83 billion, marking a 6 per cent increase from the preceding year.