Earnings Review
Torrent Power Jan-Mar PAT more than doubles on tax reversal
This story was originally published at 21:33 IST on 14 May 2025
Register to read our real-time news.Informist, Wednesday, May 14, 2025
Please click here to read all liners published on this story
--Torrent Power Jan-Mar consol PAT INR 10.60 bln vs INR 4.30 bln year ago
--Torrent Power Jan-Mar consol revenue INR 64.56 bln vs INR 65.29 bln yr ago
--Torrent Power to pay INR 5 per share final dividend
--Torrent Power board OKs raising up to INR 30 bln via NCDs
--Torrent Power Jan-Mar deferred tax credit INR 5.9 bln vs INR 705 mln outgo
--Torrent Power FY25 consol PAT INR 29.89 bln vs INR 18.33 bln year ago
--Torrent Power FY25 consol revenue INR 291.65 bln vs INR 271.83 bln yr ago
--Torrent Power Jan-Mar electricity cost INR 38.97 bln vs INR 30.14 bln
--Torrent Power Jan-Mar consol generation sales INR 12.5 bln vs INR 22 bln
--Torrent Power Jan-Mar consol T&D revenue INR 58.30 bln vs INR 55.98 bln
--Torrent Power Jan-Mar consol renewables sales INR 2.51 bln vs INR 2.62 bln
--Torrent Power Jan-Mar consol operating margin 17.51% vs 16.99% year ago
--Torrent Power FY25 consol operating margin 18.20% vs 16.77% year ago
--Torrent Power FY25 consol EBITDA INR 57.95 bln vs INR 49.03 bln year ago
By Shakshi Jain and Arya S. Biju
MUMBAI – Torrent Power Ltd. Wednesday reported a more than twofold on-year rise in its consolidated net profit for Jan-Mar despite a marginal decline in its revenue for the quarter. This was due to a reversal of deferred tax liabilities of the company resulting in a net tax credit of INR 4.6 billion for the quarter. The tax outgo in the year-ago quarter was 1.7 billion.
The company's bottom line rose over 146% on year to INR 10.60 billion for the reporting quarter. Sequentially, it was up almost 123%. The company's top line fell over 1% on-year and about 0.7% sequentially to INR 64.56 billion. Total expenses of the company during the quarter fell just under 1% to INR 59.51 billion.
Electricity costs, the company's largest expense, which accounted for 65% of its total expenses in the reporting quarter, rose 29% on year to INR 38.97 billion. Its other expenses for the quarter rose over 5% to INR 4.17 billion. Expense related to the purchase of stock-in-trade rose nearly 22% to INR 3.82 billion. The on-year rise in these expenses was offset by a 68% on-year decline in its second-largest expense of fuel cost to INR 4.70 billion in the quarter.
For the financial year ended Mar. 31, the company reported a consolidated net profit of INR 29.89 billion, up 63% on year. Its revenue from operations for the same period rose over 7% on year to INR 291.65 billion. During 2024-25 (Apr-Mar), the company benefitted from the reversal of deferred tax liabilities of INR 6.37 billion. In FY25, the company's finance costs and depreciation and amortisation expenses rose nearly 11% and 9% on year, respectively, driven by capital expenditure for commissioning additional renewable energy generation capacities, according to the press release.
Higher contributions from its gas-based power plants and licenced and franchised distribution businesses, along with the gains booked from the sale of non-current investments, drove the growth in net profit of the company in FY25, Torrent Power said. The company's consolidated earnings before interest, tax, depreciation, and amortisation for the March quarter were INR 12.45 billion, up 3% on year. For FY25, the EBITDA was INR 57.95 billion, up 18% on year. The company's operating margin for the reporting quarter improved on year to 17.51% from 16.99%. For FY25, the operating margin was 18.20% up from 16.77% in the previous year.
Revenue from the transmission and distribution business of the company rose 4% on year to INR 58.30 billion, while its revenue from the power generation business declined over 43% on year to INR 12.46 billion. Revenue from its renewable energy business fell 4% on year to INR 2.51 billion.
The plant load factor of all plants of the company declined in the March quarter compared to the year-ago quarter. Plant load factor is a metric that measures the performance of a power plant by comparing the actual energy it generates to the maximum energy it can generate. In the renewable power segment, the plant load factor of the company's wind segment for the quarter fell to 19% from 21% a year ago. The solar business' plant load factor for the quarter fell to 18% from 20% a year ago.
Along with the March quarter earnings, the company announced a final dividend of INR 5 per share for FY25. Further, the board of Torrent Power approved raising up to INR 30 billion by issuing non-convertible debentures in one or more tranches by way of private placement. On Wednesday, shares of the company closed at INR 1,449.90 on the National Stock Exchange, up 1.6%. End
Edited by Deepshikha Bhardwaj
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
