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Torrent Power Ltd posted consolidated net profit of ₹488 crore for the quarter ended March 31, 2023, against a net loss of ₹484 crore a year ago. Consolidated revenues from operations stood at ₹6,038 crore for the quarter, up 61 per cent year-on-year (₹3,744 crore last year).
For the full year 2022-23, the company’s net profit stood at ₹2,171 crore (₹461 crore the previous year), on revenues of ₹25,694 crore (₹14,258 crore). Torrent Power said the revenue from operations for the year included sales of RLNG worth ₹3,069 crore. The Board of Directors recommended a final dividend of ₹4 (in addition to the earlier interim dividend of ₹22) per equity share of ₹10 each.
The board has also approved the issuance of Non-Convertible Debentures upto ₹3,000 crore in one or more tranches by way of Private Placement.
Samir Mehta, Chairman, Torrent Power, said, “During the year, we successfully integrated 5 acquisitions – licensed distribution business of Daman & Diu and Dadra Nagar Haveli, commissioned wind power plants of 156 MW and solar power plants of 125 MW. The company incurred a capex of ₹2,938 crore during the year. We also successfully navigated through the volatility in LNG prices on account of the Russia – Ukraine war.”
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