Companies

Torrent Power posts standalone Q4 net loss of ₹222 crore

Our Bureau Ahmedabad | Updated on May 18, 2020 Published on May 18, 2020

Torrent Power Ltd on Monday announced standalone net loss of ₹222 crore for the fourth quarter ended March 2020, as against the net profit of ₹27 crore in the corresponding quarter last year.

Company has registered standalone revenues of ₹2,931 crore for the quarter under review, as against ₹2,839 crore in the same quarter last year.

Torrent Power has attributed the quarterly loss to one-off impairment assessment of 1,200-MW DGEN Mega Power Project located at Dahej in South Gujarat. “Based on such assessment, the company has provided for impairment loss of ₹1,000 crore, which has been disclosed as an ‘Exceptional item’ in the standalone financial results,” a note on results said.

Company posted standalone net profit for 2019-20 at ₹1,209 crore as against ₹889 crore in the previous year. Total standalone revenue from operations stood at ₹13,442 crore as against ₹12,978 crore.

On consolidated basis, its net loss for the fourth quarter ended March 2020, stood at ₹274 crore, as against ₹25 crore in the same quarter last year. Consolidated revenue from operations stood at ₹2,983 crore for the quarter as against ₹2,925 crore in the corresponding quarter last year.

Full year profit

Consolidated profit for the fiscal 2019-20 stood at ₹1,179 crore as against ₹904 crore in the previous year. Company’s consolidated revenue from operations stood at ₹13,641 crore, as against ₹13,151 crore in the previous year.

Company stated that “The board has not considered any further dividend for fiscal 2019-20. The interim dividend of around ₹11.60 (including ₹5 as special dividend) declared by the board at its meeting held on February 12shall be considered as final dividend for fiscal 2020.”

Torrent Power shares ended lower at ₹296 down by 2.82 per cent on NSE Monday.

Published on May 18, 2020

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.