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

Next Story
Infrastructure Urban

Karnataka Seeks Rs.5,000 Crore World Bank Aid for Disaster Resilience

To strengthen Bengaluru's status as a global IT-BT hub while addressing its vulnerability to natural disasters, the Karnataka government has sought Rs.50 billion in financial assistance from the World Bank under a proposal called the Disaster Resilience Initiative. Of this, Rs.35 billion is earmarked for Bengaluru, with the remaining Rs.15 bilion allocated for disaster-prone cities like Belagavi and Mangaluru. According to government officials, Rs.25 billion will go to the Bruhat Bengaluru Mahanagara Palike (BBMP) for modernising the city’s stormwater drains, which have been neglected for t..

Next Story
Building Material

JSW Group and POSCO to Establish Greenfield Steel Plant in Keonjhar

Odisha Chief Minister Mohan Charan Majhi announced that JSW Group, in collaboration with South Korean steel giant POSCO, will set up a greenfield steel facility in his home district of Keonjhar. This development follows speculation regarding the location of the joint venture. During his two-day visit to Keonjhar to celebrate Diwali, Majhi disclosed that discussions about the steel plant took place during roadshows for the upcoming Make-in-Odisha conclave held in Delhi and Mumbai. He confirmed that the two companies have signed a Memorandum of Understanding (MoU) to establish the plant, which w..

Next Story
Infrastructure Energy

Coal India Eyes Dividend Return

Coal India Ltd. (CIL) is optimistic about rejoining the list of dividend-paying companies, primarily due to a notable improvement in the performance of its subsidiary, Eastern Coalfields Ltd. (ECL). ECL’s operational efficiency and financial performance have seen considerable progress, contributing positively to CIL’s overall profitability. After missing its dividend payout last year—a rarity given its history as a reliable dividend stock—CIL is working to restore shareholder confidence through enhanced production targets and cost-cutting measures. ECL's focused strategy on boosting pr..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000