Torrent Power reports Q3 FY 2021-22 results

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175

Major Highlights

Revenue from Operations

₹ 3,767 crs in Q3 FY 2021-22 compared to ₹ 2,953 crs in Q3 FY 2020-21, up by 28%

₹ 10,514 crs in YTD FY 2021-22 compared to ₹ 9,089 crs in YTD FY 2020-21, up by 16%

EBITDA

₹ 1,000 crs in Q3 FY 2021-22 compared to ₹ 908 crs in Q3 FY 2020-21, up by 10%

₹ 2,738 crs in YTD FY 2021-22 compared to ₹ 2,660 crs in YTD FY 2020-21, up by 3%

Total Comprehensive Income

₹ 369 crs in Q3 FY 2021-22 compared to ₹ 320 crs in Q3 FY 2020-21, up by 15%

₹ 945 crs in YTD FY 2021-22 compared to ₹ 892 crs in YTD FY 2020-21, up by 6%

New Delhi, February 04, 2022: Torrent Power Limited (the “Company”) today announced financial results for the quarter ended December 31, 2021.

The major reasons for improvement in the TCI for the quarter on y-o-y basis are:

  • Gain from trading of LNG;
  • Increase in contribution from merchant power sales offset by lower contribution from long term PPA in gas-based power plants;
  • Increase in contribution from Distribution Franchisee Business due to reduction in T & D losses partially offset by lower contribution due to lower rate;
  • Decrease in finance costs, both due to lower debt and reduction in interest rates;
  • Increase in tax expenses;

During the quarter, the Company’s Ahmedabad and Surat distribution units have won the British Safety Council’s prestigious Sword of Honour award for achieving excellence in the field of health and safety and Globe of Honour award in the field of environmental sustainability. SUGEN Mega Power Project has also received Sword of Honour award for the second time this year. Torrent Power is one of just 5 organizations (of which 2 including Torrent Power are electric utilities) worldwide to receive both these prestigious recognitions in 2021. Torrent Power is only the second company ever from India to win both these accolades in a single year. These accolades reaffirm Torrent Power’s leadership in the areas of health, safety and environment and its strong commitment to upholding the highest standards of ESG.

The Board at its meeting of even date, has approved interim dividend of ₹ 9.00 per equity share.

Corporate Comm India (CCI Newswire)