Torrent Energy’s share worth jumped 5.8 per cent on the BSE to a brand new all-time excessive of Rs 829 on Monday. The features got here after the corporate’s sturdy earnings efficiency on Thursday after market hours.
With immediately’s features, the inventory is up a whopping 92 per cent from its 52-week low of Rs 431 touched on January 30, 2023. The corporate’s consolidated web revenue rose 9 per cent year-on-year to Rs 531 crore. Within the September quarter.
Income from operations rose 4% to Rs 6,961 crore.
EBITDA for Q2FY24 rose 6 per cent to Rs 1,330 crore from Rs 1,258 crore within the year-ago interval.
The corporate mentioned that the expansion in web revenue got here towards the backdrop of a rise within the contribution of business power gross sales in gas-fired energy vegetation, from licensed distribution corporations, and a rise within the contribution of renewable power corporations because of the addition of capability, a rise in wind power and a lower in tax bills.
On the similar time, it additionally famous a rise in financing prices and depreciation bills together with a decrease web revenue from LNG buying and selling, which was partially offset by an elevated contribution from business capability gross sales at fuel terminals.
Torrent Energy, an built-in power utility of the Torrent Group, is likely one of the largest corporations within the nation’s power sector with a presence throughout the power worth chain of technology, transmission and distribution.
The corporate has a complete put in technology capability of 4,287 MW, consisting of two,730 MW of gas-based capability, 1,195 MW of renewable capability, and 362 MW of coal-based capability.
Furthermore, there are 953 MW renewable power tasks beneath growth. The entire producing capability, together with tasks in superior growth levels, is 5,240 megawatts.
In distribution, Torrent Energy distributes roughly 28 billion items to over 4.03 million clients within the cities of Ahmedabad, Gandhinagar, Surat, Dahej, Particular Financial Zone, Dholera Sir in Gujarat, Union Territory of Dadra and Nagar Haveli, Daman and Diu, and Bhiwandi. , Shell , and Mumbra . Kalwa in Maharashtra and Agra in UP.
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