New Delhi : Torrent Power Ltd on Tuesday reported 88% year-on-year (YoY) growth in net profit 694.54 crore for the third quarter ending December 31, 2022.
In the same quarter last year, the company had earned a net profit of Rs. 369.45 cr.
Total Revenue from Operations in the December Quarter 6,442.8 crore during the period under review, up 71% as against 3,767.4 crore in the same period last fiscal.
“The major reasons for the improvement in total comprehensive income for the quarter on a year-on-quarter basis are due to better performance from operations in Dadra and Nagar Haveli and Daman and Diu and increase in contribution from existing licensed distribution businesses. April 1, Contribution from franchise distribution business increased due to reduction in T&D losses taken from 2022 and sustained and sustained focus on loss reduction activities.
In a separate statement, the company said its board has approved an interim dividend 22 per equity share (including 13 per equity share as special dividend for the financial year 2022-23).
Torrent Power, The 14,258-crore integrated power utility 23,500 crore Torrent Group is one of the largest companies in the country’s power sector with presence across the entire power value chain – generation, transmission and distribution.
The company has a total installed generation capacity of 4,160 MW, which includes 2,730 MW gas based capacity, 1,068 MW renewable capacity and 362 MW coal based capacity.
In addition, 736 MW of renewable projects are under development, for which LOAs have been obtained and PPAs for 428 MW have been executed. The total generation capacity including under-development capacity will be 4,896 MW with renewable capacity of 1,804 MW.
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