Torrent Power Q1 Results: Revenue, Profit Beat Estimates On Higher Generation Income
The Torrent Group company reported a consolidated revenue growth of 23% to Rs 9,034 crore in the June quarter.
Torrent Power Ltd. exceeded analysts' estimates in income and profit growth in the first quarter of fiscal 2025, due to heightened power demand during the scorching summer months between April and June.
The Torrent Group company reported a consolidated revenue growth of 23% to Rs 9,034 crore in the June quarter, as compared to Rs 7,328 crore in the same period last year, according to an exchange filing on Tuesday. Analysts' estimates compiled by Bloomberg pegged the income at Rs 7,828 crore.
Net profit also surged 87% to Rs 996 crore, driven by increase in contribution from merchant power sales in gas-based power plants and jump in contribution from licensed distribution businesses.
Torrent Power Q1 Results (Consolidated, YoY)
Revenue up 23% to Rs 9,034 crore versus Rs 7,328 crore (Bloomberg estimate: Rs 7,828 crore).
Net profit up 87% to Rs 996 crore versus Rs 532 crore (Bloomberg estimate: Rs 632 crore).
Ebitda up 57% to Rs 1,858 crore versus Rs 1,185 crore (Bloomberg estimate: Rs 1,396.44 crore).
Ebitda margin at 20.6% versus 16.1% (Bloomberg estimate: 17.8%).
Segment-wise, revenue from the generation business rose 65% year-on-year to Rs 3,677.6 crore, while transmission and distribution went up by 4.7% to Rs 6,934.3 crore. Income from renewables grew 5.5% to Rs 307.4 crore.
Torrent Power has an aggregate installed generation capacity of 4,415 megawatt peak, comprising 2,730 MW of gas-based capacity, 1,323 MWp of renewable capacity and 362 MW of coal-based capacity, as of June.
Further, renewable projects of 3,077 MWp are under development. Total generation capacity, including projects under advanced stages of development, is 7,492 MWp, the company said.
The private power producer distributed nearly 30 billion units to over 41.3 lakh customers in Gujarat, Maharashtra, Uttar Pradesh, Dadra and Nagar Haveli, and Daman and Diu.
The board approved the sale of Torrent Electricals Pvt. to the holding firm Torrent Investments Pvt. for Rs 85 crore.
Shares of Torrent Power closed 0.3% higher at Rs 1,599.65 apiece, as compared to a 0.12% advance in the benchmark BSE Sensex. The results were announced after market hours.
