ReNew Energy net profit declines 5%, Torrent Power and others post strong Q2 growth

ReNew Energy reported a 5.3% year-on-year drop in its consolidated net profit to Rs 467.5 crore for the September quarter (Q2 FY26), compared to Rs 493.9 crore in the same period last year. The company’s total income, however, rose to Rs 3,855.7 crore from Rs 2,988.7 crore, driven by higher revenues across its operating segments.

According to the company, net profit for Q2 FY26 stood at Rs 4,675 million (USD 53 million) against Rs 4,939 million (USD 56 million) in Q2 FY25. Revenue from solar module and cell manufacturing operations reached Rs 1,012.8 crore during the quarter.

Borosil Renewables reported a sharp rise in profitability for Q2 FY26, with net profit increasing to Rs 45.8 crore from Rs 12.6 crore in the same period last year. Revenue grew 42.5% year-on-year to Rs 378.4 crore, while EBITDA rose to Rs 124 crore from Rs 48 crore. The company’s operating margin improved to 32.8% from 18.1%.

Finolex Cables also posted higher earnings for the quarter, with net profit up 37.8% year-on-year to Rs 162.6 crore compared to Rs 118 crore in Q2 FY25. Revenue rose 5% to Rs 1,375.8 crore, while EBITDA increased 37% to Rs 145 crore. The company’s margin improved to 10.5% from 8.1%.

Torrent Power delivered the strongest growth among peers, recording a 50.5% rise in net profit to Rs 723.7 crore for Q2 FY26 compared to Rs 481 crore a year earlier. Revenue increased nearly 10% to Rs 7,876 crore, while EBITDA grew 24.8% to Rs 1,506 crore. Operating margin expanded to 19.1% from 16.8% in the previous year.