Q4FY24 Quarterly & FY24 Annual Result Announced for Torrent Power Ltd.
Electric Utilities company Torrent Power announced Q4FY24 & FY24 results: Revenue from Operations: Rs 6,529 crore in Q4FY24 compared to Rs 6,038 crore in Q4FY23 Rs 27,183 crore in FY24 compared to Rs 25,694 crore in FY23 EBITDA: Rs 1,206 crore in Q4FY24 compared to Rs 1,186 crore in Q4FY23 Rs 4,904 crore in FY24 compared to Rs 5,141 crore in FY23 Profit for the period (PAT): Rs 447 crore in Q4FY24 compared to Rs 484 crore in Q4FY23 Rs 1,896 crore in FY24 compared to Rs 2,165 crore in FY23 Dividend: The Board has recommended final dividend of Rs 4.00 per equity share for FY24. The total dividend for FY24 stands as Rs 16.00 per equity share, comprising of interim dividend of Rs 12.00 per equity share and final divided of Rs 4.00 per equity share. Commenting on the performance, the Company’s Chairman, Samir Mehta said “The demand for power remained very strong during the past year and is expected to remain strong going forward with India being the fastest growing economy across the globe. Torrent Power had a transformative year, with positive developments across existing operations and growth initiatives. With improved visibility in power demand and moderation in LNG prices, we see better prospects of utilization of our gas-based power plants going forward. Our Distribution business continued to perform well and set new operational benchmarks. The Company has also made significant progress in building a large pipeline of Renewable projects and made initial inroads in new energy segments of green hydrogen and pump storage hydro. During the year, Torrent has been awarded renewable projects of about 3 GWp, which are under various stages of development and are expected to be completed in the next 2-3 years. Torrent was awarded 18 KTPA capacity under the PLI scheme for manufacturing of green hydrogen. The Company has also been able to foray into the pump storage hydro segment, wherein it has been allocated 4 sites, 2 each in UP and Maharashtra. The Company is well poised for the next phase of its growth and will endeavour to deliver sustainable growth for its shareholders.” Result PDF22-05-2024