December quarter saw an 88% increase in Torrent Power's net profit
POWER & RENEWABLE ENERGY

December quarter saw an 88% increase in Torrent Power's net profit

On account of increasing revenue, Torrent Power reported an 88% increase in its consolidated net profit for the December quarter, coming in at Rs 6.94 billion.

The company recorded a net profit of Rs 3.69 billion from October through December of fiscal 2021–22.

From Rs 38.33 billion in the same quarter last year, total income increased to Rs 65.26 billion in the December quarter.

In addition, its overall spending increased significantly from Rs 3,324.02 crore to Rs 55.49 billlion.

The main factors contributing to the increase in the total comprehensive income for the quarter on a year-over-year basis are an increase in contribution from franchised distribution businesses due to a reduction in T&D losses as a result of continuous and sustained focus on improving performance as well as an increase in contribution from operations in Dadra and Nagar Haveli and Daman and Diu, which have been taken over as of April 1, 2022.

One of the biggest businesses in the nation's power industry, Torrent Power, the Rs 142.58 billion integrated power utility of the Rs 235 billion Torrent Group, is present throughout the whole power value chain, including generation, transmission, and distribution.

Also read:
Nepal, India agrees to allow export of power longterm basis
NTPC to have 2,000 MW of nuclear power by 2032


On account of increasing revenue, Torrent Power reported an 88% increase in its consolidated net profit for the December quarter, coming in at Rs 6.94 billion. The company recorded a net profit of Rs 3.69 billion from October through December of fiscal 2021–22. From Rs 38.33 billion in the same quarter last year, total income increased to Rs 65.26 billion in the December quarter. In addition, its overall spending increased significantly from Rs 3,324.02 crore to Rs 55.49 billlion. The main factors contributing to the increase in the total comprehensive income for the quarter on a year-over-year basis are an increase in contribution from franchised distribution businesses due to a reduction in T&D losses as a result of continuous and sustained focus on improving performance as well as an increase in contribution from operations in Dadra and Nagar Haveli and Daman and Diu, which have been taken over as of April 1, 2022. One of the biggest businesses in the nation's power industry, Torrent Power, the Rs 142.58 billion integrated power utility of the Rs 235 billion Torrent Group, is present throughout the whole power value chain, including generation, transmission, and distribution. Also read: Nepal, India agrees to allow export of power longterm basis NTPC to have 2,000 MW of nuclear power by 2032

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement