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Power producer Torrent Power Limited registered 46 per cent lower standalone net profit of ₹199 crore for the quarter ended June 30, against ₹368 crore in the same quarter last year, a 46 per cent drop on a year-on-year basis.
Total income from operations stood at ₹2,999 crore, against ₹2,903 crore for the corresponding quarter last year.
Revenue up
On a consolidated basis, the company's net profit stood at ₹208 crore against ₹367 crore in the same period last year, a 43 per cent dip. Consolidated revenue stood at ₹3,099 crore (against ₹3,007 crore).
Consolidated EBITDA was at ₹764 crore against ₹1,004 crore in the corresponding quarter last year.
One-off items
The company said the first quarter of the current fiscal and the corresponding quarter last year were impacted by one-off items. “The current quarter has a net one-off charge of ₹21 crore and the comparative quarter in the previous year had a net one-off gain of ₹234 crore. Adjusted for these, the total comprehensive income has increased from ₹134 crore to ₹230 crore, a growth of 72 per cent,” it added.
Torrent Power has a strong balance sheet position with a debt-to-equity ratio at 0.67 as of June 30, 2021, and net debt-to-EBITDA ratio of 1.98 as of March 31, 2021, the company said.
Torrent Power shares ended positive at ₹475.35, up 0.49 per cent on the BSE on Friday.
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