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

16 Feb 2023 CW Team

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

Real Estate

11 May 2026

Casagrand Launches 41-Acre Highcity Project in Chennai

Casagrand has launched Casagrand Highcity, a 41-acre integrated residential development on Chennai’s Outer Ring Road (ORR), marking the company’s largest residential project to date.The project will comprise over 4,000 two and three BHK apartments across four G+22 towers and is positioned as one of the largest organised residential developments in the ORR corridor.Located along Chennai’s emerging residential and infrastructure growth belt, the project benefits from connectivity to IT hubs including Navalur, Siruseri SIPCOT and Porur, as well as industrial clusters such as Sriperumbudur, ..

Brigade, Marriott Open Courtyard Kochi Infopark

Brigade Hotel Ventures (BHVL) and Marriott International have opened Courtyard by Marriott Kochi Infopark, a rebranded and upgraded hotel formerly operating as Four Points by Sheraton Kochi Infopark.Located in Kakkanad adjoining Infopark Kochi, the 218-room property strengthens Brigade’s hospitality portfolio in one of the city’s key IT and commercial corridors. The hotel is positioned to cater to corporate, MICE and leisure travellers visiting Infopark, SmartCity and other business hubs in Kochi.The property offers flexible workspaces, smart TVs and high-speed WiFi across rooms and suites..

WorkEZ Expands South India Portfolio to 1.7 Mn Sq Ft

Work Easy Space Solutions (WorkEZ) has expanded its managed workspace portfolio to approximately 1.7 million sq. ft. across 12 operational buildings and two upcoming developments, strengthening its footprint across South India.The expansion includes the addition of 65,000 sq. ft. at Phoenix One National Park in Chennai and the company’s entry into Kochi through a partnership with Lulu Developers, adding another 70,000 sq. ft.WorkEZ has also signed a 0.4 million sq. ft. development in Coimbatore with Veeras Infra following the successful leasing of 0.1 million sq. ft. in the first phase. The ..