Torrent Power Reports 31% YoY Profit Growth in Q3

10 Feb 2025 CW Team

The increase in PAT was driven by higher power demand due to cold weather conditions, along with a one-time gain in cable sales contributing to a boost in other income.

Revenue from operations for the quarter grew by 2% YoY, reaching Rs 64.99 billion. The company’s earnings before interest, tax, depreciation, and amortization (EBITDA) rose 17% YoY to Rs 12.84 billion, supported by higher merchant and LNG sales, as well as foreign exchange gains.

Earnings per share (EPS) for the quarter stood at Rs 9.76.

Torrent Power executed an agreement to develop and supply a 2,000 MW / 16,000 MWh pumped storage hydro power facility for the Maharashtra State Electricity Distribution Company. Additionally, the company commissioned a 300 MW solar project during the quarter.

9M 2024 performance

For the first nine months (9M) of FY 2024, Torrent Power reported a PAT of Rs 19.74 billion, a 37% YoY increase. This growth was driven by LNG and merchant sales, along with foreign exchange gains.

Total income for 9M 2024 rose 10% YoY to Rs 230.81 billion, while revenue from operations increased 9.9% to Rs 227.09 billion. The company’s EPS for the period was Rs 39.94.

Torrent Power's operational solar capacity stands at 741 MW, with an additional 1,546 MW under development. In wind energy, the company has 921 MW operational, with 1,419 MW in development. The company’s total installed generation capacity is 4,754 MW, including gas-based, renewable, and coal-based capacities, and its ongoing renewable projects add up to 2,965 MW, bringing the total generation capacity (including projects under development) to 7,719 MW.

In December 2024, Torrent raised Rs 35 billion through a qualified institutional placement of shares, which was oversubscribed four times. Additionally, Torrent Power secured the auction for the purchase of 300 MW of power from wind-solar hybrid energy projects, with a greenshoe option of up to 150 MW, at Rs 3.65/kWh.

(mercom)

Torrent Power, a Gujarat-based power company, recorded a profit after tax (PAT) of Rs 4.89 billion for the third quarter (Q3) of FY 2025, marking a 31% year-over-year (YoY) increase from Rs 3.74 billion in the same period last year. The increase in PAT was driven by higher power demand due to cold weather conditions, along with a one-time gain in cable sales contributing to a boost in other income. Revenue from operations for the quarter grew by 2% YoY, reaching Rs 64.99 billion. The company’s earnings before interest, tax, depreciation, and amortization (EBITDA) rose 17% YoY to Rs 12.84 billion, supported by higher merchant and LNG sales, as well as foreign exchange gains. Earnings per share (EPS) for the quarter stood at Rs 9.76. Torrent Power executed an agreement to develop and supply a 2,000 MW / 16,000 MWh pumped storage hydro power facility for the Maharashtra State Electricity Distribution Company. Additionally, the company commissioned a 300 MW solar project during the quarter. 9M 2024 performance For the first nine months (9M) of FY 2024, Torrent Power reported a PAT of Rs 19.74 billion, a 37% YoY increase. This growth was driven by LNG and merchant sales, along with foreign exchange gains. Total income for 9M 2024 rose 10% YoY to Rs 230.81 billion, while revenue from operations increased 9.9% to Rs 227.09 billion. The company’s EPS for the period was Rs 39.94. Torrent Power's operational solar capacity stands at 741 MW, with an additional 1,546 MW under development. In wind energy, the company has 921 MW operational, with 1,419 MW in development. The company’s total installed generation capacity is 4,754 MW, including gas-based, renewable, and coal-based capacities, and its ongoing renewable projects add up to 2,965 MW, bringing the total generation capacity (including projects under development) to 7,719 MW. In December 2024, Torrent raised Rs 35 billion through a qualified institutional placement of shares, which was oversubscribed four times. Additionally, Torrent Power secured the auction for the purchase of 300 MW of power from wind-solar hybrid energy projects, with a greenshoe option of up to 150 MW, at Rs 3.65/kWh. (mercom)

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