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Torrent Power posts loss before tax of Rs 693 crore in Q4 of FY'20

Torrent Power Limited (TPL) has registered a consolidated loss before tax (LBT) of Rs 693.06 crore for the quarter ended March 2020 as against a profit before tax (PBT) of Rs 220.41 crore in the corre

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Torrent Power | Q4 Results

Vinay Umarji  |  Ahmedabad 

TPL has registered a consolidated loss before tax (LBT) of Rs 693.06 crore.

Limited (TPL) has registered a consolidated loss before tax (LBT) of Rs 693.06 crore for the quarter ended March 2020 as against a profit before tax (PBT) of Rs 220.41 crore in the corresponding quarter last year. The company's consolidated total income also grew marginally by 1.89 per cent to stand at Rs 3020.84 crore in Q4 of FY'20 as against Rs 2964.65 crore in Q4 of FY'19.

had incurred a one-off impairment assessment of 1,200-MW DGEN Mega Power Project located at Dahej in South Gujarat.

For the whole fiscal year of 2019-20, the company's consolidated PBT stood at Rs 545.90 crore as compared to Rs 1248.36 crore in the previous fiscal. On the other hand, its consolidated total income grew from Rs 13239.07 crore in FY'2018-19 to Rs 13687.13 crore in FY'2019-20.

On Monday, the company stated that its Board had not considered any further dividend for fiscal 2019-20 since an interim dividend of around Rs 11.60 (including Rs 5.00 as special dividend) was declared by the Board at its meeting held on February 12, 2020, shall be considered as final dividend for fiscal 2020.

chairman Samir Mehta said that despite the significant stress in the power sector, the company continued to deliver industry leading returns in the private sector on account of its strategy to pursue risk-adjusted profitable opportunities, strong execution capabilities and focus on operational excellence.

Welcoming the government’s recent announcements for the power sector including the decision to privatise distribution circles in union territories (UTs), Mehta said that with its strong balance sheet, the company will continue to pursue profitable growth opportunities across the entire value chain of the power sector.

During FY20, Torrent Power took over distribution operations of the Shil-Mumbra-Kalwa area in Maharashtra under a distribution franchise agreement for 20 years wef March 01, 2020. The Company also increased its generation capacity from 3,703 MW to 3,879 MW during the year, with the entire addition in capacity coming from renewable energy.

Meanwhile, for the fiscal year 2019-20, Torrent Power clocked a net debt to EBITDA ratio of 2.18 and a debt-equity ratio of 0.92 as on March 31, 2020, the company stated.

First Published: Mon, May 18 2020. 19:48 IST
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