Torrent Power gains after Q3 PAT jumps 31% YoY to Rs 479 cr; declares dividend of Rs 14/sh

Torrent Power added 1.50% to Rs 1,363 after the company's consolidated net profit jumped 32.19% to Rs 475.66 crore in Q3 FY25 as against with Rs 359.83 crore posted in Q3 FY24.

Revenue from operations grew by 2.09% year on year to Rs 6,499.38 crore in the quarter ended 31 December 2024.

Profit before tax for the quarter was at Rs 629.90 crore, registering a growth of 227.70% from Rs 513.35 crore recorded in Q3 FY24.

During the quarter, EBITDA jumped 17% to Rs 1,284 crore in Q3 FY25 as against Rs 1,098 in Q3 FY24.

On the segmental front, revenue from generation was at Rs 1,423.75 (down 10.45% YoY), revenue from transmission and distribution stood at Rs 5,816.98 crore (down 0.06% YoY), and revenue from renewables stood at Rs 216.51 crore (down 5.77% YoY) during the period under review.

During the quarter, the company successfully completed a qualified institution placement (QIP) worth approximately Rs 3,500 crore (USD 413.20 million).

The company executed an energy storage facility agreement with Maharashtra State Electricity Distribution Company (MSEDCL) for the development and supply of 2,000 MW / 16,000 MWh of pumped storage hydropower.

The company commissioned a 300 MW solar power project, which has a power purchase agreement (PPA) with its own distribution circle.

The company has an installed generation capacity of 4,754 MWp, including 2,730 MW of gas, 1,662 MWp of renewable, and 362 MW of coal-based capacity.

Additionally, 2,965 MWp of renewable projects are under development. The total generation capacity, including these projects, is 7,719 MWp.

The company distributes approximately 30 billion units of electricity to over 4.13 million customers across multiple regions, including Ahmedabad, Gandhinagar, Surat, Dahej SEZ, and Dholera SIR in Gujarat; the Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD); Bhiwandi, Shil, Mumbra, and Kalwa in Maharashtra; and Agra in Uttar Pradesh.

Meanwhile, the board has declared an interim dividend of Rs 14 per share for FY 2024-25, as on the record date, i.e., 12 February 2025.

Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission, and distribution.

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