Torrent Power Q1 Results: Net profit increased by 6% YoY to Rs 532.3 crore

For the first quarter that ended June 30, 2023, Torrent Power Ltd. (TPL) announced a 6% YoY growth in net profit at Rs. 532.3 crore on Thursday.

According to a regulatory filing by the company, Torrent Power reported a net profit of Rs 502 crore in the comparable period last year.

Total revenue for the quarter was Rs 7,327.6 crore, up 12.6% from Rs 6,510.3 crore during the same time the year before.

In the first quarter of the current fiscal year, EBITDA climbed 11.7% to Rs 1,184.8 crore from Rs 1,060.4 crore in the similar period of the previous fiscal.

In the reporting quarter, the EBITDA margin was 16.2%, down from 16.3% in the same period of the prior fiscal year. 

In Q1 of FY24, Torrent Power's total comprehensive income increased by 6% to Rs 534 crore from Rs 503 crore in Q1 of FY23. A total of 4,281 MW of installed generation capacity belongs to the company, of which 2,730 MW is based on gas, 1,189 MW is based on renewable energy, and 362 MW is based on coal.

In addition, 758 MW of renewable energy projects are in the planning stages; PPAs have been executed and LOAs have been received. With projects in advanced phases of development included, the total generation capacity is 5,039 MW.

The results were announced after the market had closed.

Source: Media Reports