Torrent Power advanced 2.33% to Rs 617.90 after the company said that it has has forayed into the electric mobility infrastructure sector with the launch of public EV charging stations in Gujarat. 

The initial set of four EV charging stations have been set up in Ahmedabad and two more are likely to be launched in Surat soon with more cities to be added in the near future. The company has collaborated with SIEMENS for developing the EV charging network. TPL has installed three 60KW DC fast chargers, one each at Prahladnagar, Naranpura and Drive-In-Road in Ahmedabad. Each charger can charge two vehicles simultaneously. Apart from this, a 22 kW AC chargers has also been set up at Raipur, in Ahmedabad. 

With a view to provide affordable fast charging facility for the citizens of Ahmedabad, the company is currently offering charging at Rs 12 per unit which is amongst the lowest in the city. An additional discount of 20% on first charge has also been announced by the Company for a limited period. 

Varun Mehta – director, Torrent Power said “We are working towards creating a widespread EV charging network that is affordable, accessible and convenient for all. By providing a reliable and extensive charging network, Torrent hopes to alleviate range anxiety and promote the widespread adoption of electric vehicles.” 

Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission and distribution. 

The company posted consolidated net profit of Rs 483.93 crore in Q4 FY23 as against net loss of Rs 487.37 crore posted in Q4 FY22. Revenue from operations surged 61.28% year on year to Rs 6,037.87 crore in the quarter ended 31 March 2023.