Torrent Power on Thursday posted consolidated net profit of INR 484 crore for the quarter ended September 2022, up 31 per cent from INR 369 crore clocked in the corresponding quarter a year ago. The revenue of the company rose to INR 6,703 crore in the quarter from INR 3,648 crore in the same period a year ago.
Major reasons for improvement in the total comprehensive income for the quarter on y-o-y (year-on-year) basis are: increase in contribution from franchised distribution business due to reduction in T&D (Transmission and Distribution) losses on account of continuous and sustained focus on loss reduction activities and increase in electricity demand; improved performance of licensed distribution businesses, and net gain from trading of LNG (gas), among others, it stated.
The company has an aggregate installed generation capacity of 4,160 MW comprising 2,730 MW of gas-based capacity, 1,068 MW of renewable capacity and 362 MW of coal-based capacity. Further, renewable projects of 715 MW are under development, for which LOAs (letter of award) have been received and PPA (Power Purchase Agreement) has been executed. Total generation capacity, including under development capacity, will be 4,875 MW with renewable capacity of 1,783 MW.