Torrent Power Limited on Tuesday posted an 88 per cent growth in its consolidated net profit at Rs 694.54 crore for the December quarter on account of higher income.
The company had clocked a net profit of Rs 369.45 crore in the October-December period of fiscal 2021-22, Torrent Power Ltd said in a regulatory filing.
Total income rose to Rs 6,526.44 crore in the December quarter from Rs 3,833.14 crore in the year-ago period.
Its total expenses also soared to Rs 5,549.01 crore, compared to Rs 3,324.02 crore earlier.
In a separate statement, the company said its board has approved an interim dividend of Rs 22 per equity share (including Rs 13 per equity share as a special dividend) for FY 2022-23.
"The major reasons for improvement in the total comprehensive income for the quarter on y-o-y basis are increase in contribution from existing licensed distribution businesses due to improved performance and contribution from the operations in Dadra and Nagar Haveli and Daman and Diu which has been taken over from April 1, 2022 and increase in contribution from franchised distribution business due to reduction in T&D losses on account of continuous and sustained focus on Loss reduction activities," it said.
Torrent Power, the Rs 14,258-crore integrated power utility of the Rs 23,500 crore Torrent Group, is one of the largest companies in the country's power sector with presence across the entire power value chain -- generation, transmission and distribution.
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 736 MW are under development.
In the distribution segment, it distributes nearly 26 billion units to over 3.94 million customers in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat, Union Territory of Dadra and Nagar Haveli and Daman and Diu ; Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app