Torrent Power Limited has announced its financial results for the quarter ending December 31, 2024, showcasing a solid performance across key metrics. The company reported a 2% increase in Revenue from Operations, reaching ₹6,499 Cr in Q3 FY 2024-25 compared to ₹6,366 Cr in the same quarter of the previous year.
The company’s strong revenue growth reflects the robust performance of its gas-based power plants, which contributed significantly to its financial results. Despite challenges faced by the renewable energy segment due to lower wind resources and reduced PLF (Plant Load Factor), Torrent Power’s diversified portfolio allowed it to maintain a positive trajectory in its financial performance.
Torrent Power’s EBITDA for the quarter also saw a significant jump. The company recorded ₹1,284 Cr in Q3 FY 2024-25, up by 17% from ₹1,098 Cr in the same quarter last year. The year-to-date figure for EBITDA stood at ₹4,550 Cr, reflecting a 23% increase compared to ₹3,698 Cr in the first nine months of FY 2023-24. This growth is largely driven by improved operational efficiencies and higher contributions from its gas-based power plants.
The Total Comprehensive Income (TCI) for Torrent Power in Q3 FY 2024-25 surged by 33%, reaching ₹490 Cr, compared to ₹369 Cr in the corresponding quarter of the previous year. For the year-to-date period, TCI rose by an impressive 38%, amounting to ₹1,974 Cr compared to ₹1,434 Cr in YTD FY 2023-24. This increase can be attributed to various factors, including gains on the sale of non-current investments and the strong performance of the gas-based power plants.
Torrent Power made significant strides in its growth trajectory during the quarter, marking a series of key developments. The company completed a Qualified Institutions Placement (QIP), raising ₹3,500 Crores (approximately USD 413.20 million), its first-ever equity raise. The QIP saw an overwhelming response from both global and domestic investors, reinforcing strong investor confidence in the company’s prospects.
Additionally, Torrent Power executed an Energy Storage Facility Agreement with MSEDCL to develop and supply 2,000 MW / 16,000 MWh Pump Storage Hydro power, further expanding its renewable energy capabilities. To strengthen its position in solar energy, the company also commissioned a 300 MW Solar Power Project, backed by a Power Purchase Agreement (PPA) with its own distribution circle. These strategic initiatives underscore Torrent Power’s commitment to diversifying its energy portfolio and accelerating its growth in the renewable sector.
Torrent Power declared an interim dividend of ₹ 14 per equity share and fixed February 12, 2025, as the record date.
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Published on: Feb 5, 2025, 1:16 PM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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