MUMBAI, India — Torrent Power reported a 70% drop in consolidated net profit for the fourth quarter of fiscal 2026, even as revenue remained broadly stable.
The company said Tuesday that net profit fell to 3.18 billion rupees for the January-March quarter, down from 10.6 billion rupees in the same quarter a year earlier. Torrent Power had reported net profit of 6.43 billion rupees in the previous quarter.
Revenue from operations stood at 64.06 billion rupees, compared with 64.56 billion rupees in the year-earlier period, according to the company’s stock exchange filing.
Torrent Power said its gas-based generation business remained under pressure because of changing power demand patterns and volatility in gas markets.
The company also announced a final dividend of 5 rupees per equity share for fiscal 2026. That brings the total dividend for the year to 20 rupees per share, including an interim dividend of 15 rupees per share declared earlier.
Torrent Power’s board also approved the reappointment of Radhika Haribhakti as a non-executive independent director for a second and final five-year term from Aug. 7, 2026, to Aug. 6, 2031, subject to shareholder approval.
The board separately cleared the reappointment of Ketan Dalal as a non-executive independent director for a second and final five-year term from May 11, 2027, to May 10, 2032, also subject to shareholder approval.
For the full fiscal year, Torrent Power said consolidated revenue slipped 0.6% to 289.66 billion rupees, while net profit fell 19% to 24.16 billion rupees.
The company said annual profitability was affected by the absence of a one-time, noncash deferred tax liability reversal of 6.37 billion rupees recorded in fiscal 2025. Excluding that impact, total comprehensive income for fiscal 2026 rose by 920 million rupees, supported by stronger operating performance in the distribution and renewable energy businesses. (Source: IANS)
