Torrent Power's net profit rose 12.9% year-on-year to ₹838 crore in the September quarter, according to Livemint. Revenue grew faster, by 24.5%, to ₹9,802 crore from ₹7,876 crore a year earlier.
The stock is in focus on Thursday, 5 November 2026. For small investors, the main point is simple. Sales grew strongly, but profit did not grow at the same speed.
What happened
Torrent Power has shared its results for the July to September quarter. This is the second quarter of the financial year 2026-27, often written as Q2 FY27. Livemint reported the numbers in its list of stocks to watch on Thursday.
Two numbers matter most here. Net profit is the money a company keeps after paying all its costs, interest and taxes. Revenue is the total money it earns from its business before any costs are taken out. Both rose compared with the same quarter last year.
This kind of comparison is called year-on-year (YoY). It compares one quarter with the same quarter a year ago. That way, normal seasonal ups and downs do not confuse the picture.
The report did not say whether these are standalone figures (only the main company) or consolidated figures (the company plus the companies it owns). Readers who want this detail can check the company filing on the BSE or NSE website.
The numbers
| Item | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | ₹9,802 crore | ₹7,876 crore | Up 24.5% |
| Net profit | ₹838 crore | Not given in the report | Up 12.9% |
| Rise in revenue in rupees | ₹1,926 crore (our calculation) | - | |
The table shows that revenue grew almost twice as fast as profit, based on our calculation of the two growth rates.
Our calculation also shows that Torrent Power kept about ₹8.55 as net profit for every ₹100 of revenue in the September quarter. The report did not give last year's profit in rupees. So we have not compared this figure with the same quarter last year.
Why profit grew slower than revenue
When revenue grows faster than profit, costs have usually gone up quickly too. For any company, costs can include raw materials, staff salaries, interest on loans and the wear and tear of machines. The report did not explain the gap at Torrent Power. We do not know which costs rose or by how much.
A simple example helps. Say a tea stall's daily sales rise from ₹1,000 to ₹1,245. That is a 24.5% rise. But if milk, sugar and gas also cost more, the owner's earnings may rise by a smaller share. The business is still growing. But the quality of that growth matters too.
The full results statement and comments from the company's management usually explain such gaps. These are worth reading before forming any view.
Why it matters to a common investor
Quarterly results are one of the main ways to judge a business. They show whether a company is selling more and whether it keeps more money. Torrent Power's numbers show both going up compared with last year.
Still, one quarter does not tell the full story. Investors usually look at several quarters together. They also look at debt, cash flow and future plans. You can follow how other companies did this season in our results section.
Share prices often move on what the market expected, not only on the actual numbers. A company can report higher profit and still see its share fall if traders hoped for more. The report gave no share price details for Torrent Power, so we cannot say how the stock reacted.
The market mood on Thursday
Torrent Power's results come at a time when the wider market is strong. According to Livemint, GIFT Nifty was trading around 24,300 early on Thursday. That was up nearly 350 points, or 1.50%. GIFT Nifty is a Nifty contract traded at GIFT City in Gujarat, and it gives an early hint of how Indian shares may open. Here it pointed to a sharply higher start.
On Wednesday, the BSE Sensex rose 383.55 points, or 0.50%, to close at 77,301.40. Livemint said this was its highest close in over two months. The NSE Nifty 50 gained 149.75 points, or 0.63%, to settle at 23,960.60. Both indices track India's biggest listed companies. It was their fifth session of gains in a row.
Livemint linked the rally to buying in financial, auto and fast-moving consumer goods (FMCG) shares. FMCG means daily-use items such as soap, toothpaste and biscuits. Money coming in from foreign funds and lower crude oil prices also helped, the report said.
A rising market can lift many shares together. That makes it harder to tell how much one stock moves because of its own results. Read more about index trends in our markets section.
Torrent Power was not alone on Thursday's list. Livemint also listed Dabur India, Lenskart and Nykaa among the companies with fresh results. You can read our report on Nykaa's Q2 FY27 results.
What brokerages said
NDTV Profit included Torrent Power in its list of stocks on brokerages' radar for Thursday. That list covers new calls, upgrades, downgrades and price target changes from brokerages. A brokerage is a firm that trades shares for clients and also publishes research on companies.
When we wrote this, we did not have the details of the Torrent Power call. We did not have the brokerage's name, its rating or any price target. So we are not reporting any view here. A brokerage view is an opinion, not a fact, and different firms often disagree.
Risks to keep in mind
- Profit grew at about half the speed of revenue (our calculation). If costs keep rising faster than sales, future profit could come under pressure.
- The reason for the gap between revenue and profit growth has not been explained in the reported numbers.
- The report did not say whether the figures are standalone or consolidated. This can change how the numbers should be read.
- A strong overall market can push shares up or down, whatever a single company's results show.
- One quarter is a short period and may not show the long-term trend.
What to watch next
First, the full results filing on the BSE or NSE website. It should show the cost details, the type of figures and any segment numbers. Second, comments from management on why profit grew slower than revenue. Third, the brokerage reports that NDTV Profit mentioned, once their details are public. Finally, the next quarter's results will show whether this trend continues.
Readers who follow the power sector can also see our story on Essar Renewables' 300 MW deal with NHPC.
Words explained
- Net profit: The money a company keeps after paying all costs, interest and taxes.
- Revenue: The total money a company earns from its business before any costs are taken out.
- Year-on-year (YoY): A comparison of one period with the same period a year earlier.
- Q2 FY27: The July to September 2026 quarter, the second quarter of the financial year that runs from April 2026 to March 2027.
- Standalone and consolidated: Standalone figures cover only the main company. Consolidated figures add the companies it owns.
- GIFT Nifty: A Nifty contract traded at GIFT City that gives an early signal of how Indian markets may open.
- Sensex and Nifty 50: Indices that track India's biggest listed companies on the BSE and NSE.
- FMCG: Fast-moving consumer goods, meaning daily-use items like soap and biscuits.
- Brokerage: A firm that trades shares for clients and publishes research on companies.
- Price target: The price a brokerage thinks a share may reach within a set time. It is an estimate, not a promise.
Sources: Livemint, NDTV Profit.
This article is for information and education only. It is not investment advice. MarketUpDown is not registered with SEBI as an investment adviser or research analyst. Read our disclaimer.