Mumbai, May 12 (IANS) Torrent Power on Tuesday reported a sharp 70 per cent decline in consolidated net profit for the fourth quarter of FY26 at Rs 318 crore, compared to Rs 1,059.57 crore in the corresponding quarter of the previous financial year (Q4 FY25).

The company had posted a net profit of Rs 643.08 crore in the preceding quarter, according to its stock exchange filing.

The company’s revenue from operations, however, remained largely stable during the January-March quarter at Rs 6,406.07 crore, as against Rs 6,456.34 crore recorded in the same period last financial year.

In a regulatory filing, the company said the contribution from its gas-based generation business continued to remain under pressure due to a dynamic power demand environment and volatility in gas markets.

Torrent Power also announced a final dividend of Rs 5 per equity share for FY26. With this, the total dividend declared for the financial year stands at Rs 20 per equity share, including an interim dividend of Rs 15 per equity share announced earlier.

Separately, the company’s board approved the re-appointment of Radhika Haribhakti as a non-executive independent director for a second and final term of five consecutive years from August 7, 2026 to August 6, 2031, subject to shareholders’ approval.

The board also cleared the re-appointment of Ketan Dalal as a non-executive independent director for a second and final term of five consecutive years from May 11, 2027 to May 10, 2032, subject to shareholders’ approval.

For the full year FY26, consolidated revenue declined 0.6 per cent to Rs 28,966 crore, while net profit dropped 19 per cent to Rs 2,416 crore.

The company said annual profitability was impacted by the absence of a one-time non-cash deferred tax liability reversal of Rs 637 crore recorded in FY25.

Excluding this impact, total comprehensive income for FY26 rose by Rs 92 crore, driven by improved operational performance in the distribution and renewable energy businesses.

–IANS

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