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Business EconomyPosted at: May 29 2023 8:00PM


Torrent Power posts Rs 484 crore profit in Q4

New Delhi, May 29 (UNI) On the back of higher revenue, Torrent Power on Monday reported Rs 484 crore in consolidated net profit for January-March quarter (Q4) of 2022-23 as against a net loss of Rs 487 crore in the corresponding period a year ago.
Revenue from operations during the March quarter stood at Rs 6,038 crore as compared to Rs 3,744 crore in Q4 of financial year 2021-22 registering 61% growth.
In the full financial year 2022-23, the power company's profit jumped nearly five times to Rs 2,165 crore from Rs 459 crore in FY 2021-22.
Commenting on the results, Torrent Power Chairman Samir Mehta said that FY23 had been an eventful year for the company.
"During the year, we successfully integrated 5 acquisitions – licensed distribution business of Daman & Diu and Dadra Nagar Haveli, wind power plants of 156 MW and solar power plants of 125 MW. The company incurred a capex of Rs 2,938 crore during the year," Mehta said.
The company Board recommended a final dividend of Rs 4 per equity share for FY 2022-23.
"This final dividend along with interim dividend of Rs 22.00 per equity share works out to a total dividend of Rs 26.00 per equity share (including Rs 13.00 per equity share as a special dividend)
for the FY 2022-23," the company said in a media statement.
The statement said that it enjoys a strong balance sheet position with some of the best financial ratios amongst private players in the power sector with debt-to-equity ratio of 0.92 and net debt to EBITDA ratio of 1.97 as on March 31, 2023.
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