Torrent Power reported a 49.6% YoY rise in Q2FY26 PAT to ₹742 crore, driven by a 9.8% revenue increase to ₹7,876 crore. EBITDA grew 24.7% to ₹1,506 crore, with margins expanding to 19.1%. Strong merchant power sales and lower finance costs supported performance, partly offset by higher depreciation from new renewable projects.