The company said that net profit was lower as the increase in contribution from licensed distribution businesses was offset by reduced contributions from thermal generation due to lower merchant power sales, lower renewable business contribution from decreased PLF and partial solar project commissioning, and higher finance and depreciation costs from capex and additional renewable capacity
However, revenue from operations grew by 3.09% year on year to Rs 7,175.81 crore in the quarter ended 30 September 2024.
Profit before tax for the quarter was at Rs 688.68 crore, registering de-growth of 7.02% from Rs 740.67 crore recorded in Q2 FY24.
During the quarter, EBITDA rose marginally to Rs 1,332 crore in Q2 FY25 as against Rs 1,330 in Q2 FY24.
On the margins front, the company's operating margin reduced to 16.82% in Q2 FY25 as compared with 17.55% recorded in Q2 FY24. Net profit margin declined to 6.91% in Q2 FY25 from 7.79% registered in Q2 FY24.
The company has an aggregate installed generation capacity of 4,580 MWp comprising of 2,730 MW of gas-based capacity, 1, 488 MWp of renewable capacity and 362 MW of coal based capacity.
Further, renewable projects of 2,979 MWp are under development. Total generation capacity, including projects under advanced stages of development, is 7,559 MWp, said the firm.
The company has recently received LOA for developing and supplying 2,000 MW / 16,000
MWh Pump Storage Hydro power from MSEDCL.
Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission and distribution.