Torrent Power Limited, one of India's leading power companies, reported revenue of Rs 6,961 crore from its operations in the second quarter of fiscal 2023-24, up 4% from Rs 6,703 crore. rupees from the same quarter of fiscal year 2022-23.
The company reported EBITDA of Rs 1,330 crore in Q2FY24 as against EBITDA of Rs 1,258 crore in the same quarter of the previous year.
Revenue for H1 FY24 witnessed a growth of 8% and reached Rs 14,289 crore in H1 FY24 compared to Rs 13,213 crore last year. H1 EBITDA saw a 7% increase to Rs 2,600 crore from Rs 2,427 crore.
It is worth mentioning that despite the positive result, Toreent power's participation ended in the red. The share price of torrent power decreased slightly by 0.13% (Rs 0.95 per share) and closed at Rs 751.70 at the end of the day's trading.
According to a company statement, the main reasons for this result are the increase in the contribution of commercial energy sales at gas power plants and the increase in the contribution of authorized distribution companies. The greater contribution of the renewable business due to the expansion of capacity has also influenced this positive behavior for torrent power.
Torrent Power, the โน 25,694 Crs integrated power company of the โน 37,600 Crs Torrent Group, is one of the largest companies in the country's power sector with presence across the entire power value chain - generation, transmission and distribution. The Company has an aggregate installed generation capacity of 4,287 MW comprising 2,730 MW of gas capacity, 1,195 MW of renewable capacity and 362 MW of coal capacity. In addition, 953 MW of renewable projects are under development.
