Scribd Logo
Upload

Welcome to Scribd!

  • 61 views

    Media Release: Torrent Power Reports Q1 FY 2019-20 Results

    Uploaded by

    debasish_pradhan988630
    Torrent Power reported higher revenues, earnings before interest, taxes, depreciation, and amortization (EBITDA), and total comprehensive income in the first quarter of fiscal year 2019-20 compared to the same period last year. Total comprehensive income was up 20% due to contributions from merchant power sales, higher profits from renewables, and improved performance of distribution businesses from lower transmission and distribution losses. EBITDA and revenues also increased during the quarter. The regulator also approved a long-term power procurement arrangement between the company's distribution business and a power plant, which will enable steady operations for the plant.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Media Release: Torrent Power Reports Q1 FY 2019-20 Results

    Uploaded by

    debasish_pradhan988630
    61 views2 pages
    Torrent Power reported higher revenues, earnings before interest, taxes, depreciation, and amortization (EBITDA), and total comprehensive income in the first quarter of fiscal year 2019-20 compared to the same period last year. Total comprehensive income was up 20% due to contributions from merchant power sales, higher profits from renewables, and improved performance of distribution businesses from lower transmission and distribution losses. EBITDA and revenues also increased during the quarter. The regulator also approved a long-term power procurement arrangement between the company's distribution business and a power plant, which will enable steady operations for the plant.

    Original Description:

    Annual statement

    Original Title

    Annual statement

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Torrent Power reported higher revenues, earnings before interest, taxes, depreciation, and amortization (EBITDA), and total comprehensive income in the first quarter of fiscal year 2019-20 compared to the same period last year. Total comprehensive income was up 20% due to contributions from merchant power sales, higher profits from renewables, and improved performance of distribution businesses from lower transmission and distribution losses. EBITDA and revenues also increased during the quarter. The regulator also approved a long-term power procurement arrangement between the company's distribution business and a power plant, which will enable steady operations for the plant.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    61 views2 pages

    Media Release: Torrent Power Reports Q1 FY 2019-20 Results

    Uploaded by

    debasish_pradhan988630
    Torrent Power reported higher revenues, earnings before interest, taxes, depreciation, and amortization (EBITDA), and total comprehensive income in the first quarter of fiscal year 2019-20 compared to the same period last year. Total comprehensive income was up 20% due to contributions from merchant power sales, higher profits from renewables, and improved performance of distribution businesses from lower transmission and distribution losses. EBITDA and revenues also increased during the quarter. The regulator also approved a long-term power procurement arrangement between the company's distribution business and a power plant, which will enable steady operations for the plant.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    MEDIA RELEASE

    Torrent Power reports Q1 FY 2019-20 results


    Revenue from Operations
    Rs. 3,736 crs in Q1 FY 2019-20 compared to Rs. 3,528 crs in Q1 FY 2018-19

    EBITDA
    Major
    Rs. 888 crs in Q1 FY 2019-20 compared to Rs. 819 crs in Q1 FY 2018-19
    Highlights
    Total Comprehensive Income
    Rs. 274 crs in Q1 FY 2019-20 compared to Rs. 229 crs in Q1 FY 2018-19, up 20%

    August 5, 2019: Torrent Power Limited (the “Company”) today announced financial results for the
    quarter ended 30th June, 2019.

    The major contributors for the increase in the reported Total Comprehensive Income for the quarter
    are:

     Contribution from merchant power sales during the quarter;


     Higher profits from Renewables business;
     Improved performance of licensed and franchised distribution businesses on back of
    reduction in T&D losses, higher regulated ROE in licensed distribution business &
    favourable resolution of a regulatory dispute;
     Reduction in tax expenses due to improved recoverability of past MAT credits and lower
    deferred tax liabilities;
     Decrease in contribution from long term PPA of gas based generation plant due to new
    CERC tariff regulations;
     Increase in finance and depreciation costs, reflecting additional capex in distribution and
    renewable projects.

    During the quarter the regulator approved a long term power procurement arrangement for 278
    MW between the Company's Licensed Distribution Business and UNOSUGEN Power Plant (capacity
    of 382.5 MW). The approval, for the balance life of the plant of 19 years, will enable steady base
    load operations for UNOSUGEN plant, resulting in recovery of project loan interest and depreciation
    thereon.

    About Torrent Power:


    Torrent Power Limited, the Rs. 13,341 Crs integrated power utility of the Rs. 21,000 Crs 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.

    Registered Office: “Samanvay”, 600, Tapovan, Ambawadi, Ahmedabad 380 015


    Phone: (079) 26628000, CIN: L31200GJ2004PLC044068
    Website: www.torrentpower.com; E-mail: [email protected]

    Page 1 of 2
    Generation:
     The Company has an aggregate installed generation capacity of 3,703 MW comprising of 2,730
    MW of gas-based capacity, 611 MW of renewable capacity and 362 MW of coal-based capacity.
     The Company has an additional 841 MW of renewable projects under construction and on
    completion of the said projects; the aggregate renewable capacity would be 1,452 MW and the
    aggregate total capacity would be over 4,540 MW.

    Distribution:
     The Company distributes nearly 16.68 billion units to over 3.32 million customers in the cities of
    Ahmedabad, Gandhinagar, Surat and Dahej SEZ in Gujarat, Bhiwandi in Maharashtra and Agra in
    Uttar Pradesh.
     The Company further strengthened its leadership position in Distribution business and has been
    a) awarded the Distribution license for Dholera SIR area in Gujarat and b) appointed the
    Distribution Franchisee by MSEDCL for the Shil, Mumbra and Kalwa areas in Thane District in
    Maharashtra.
     Torrent Power, is widely considered to be the leading Power distributor in India and in its
    licensed areas in Gujarat has the distinction of having the lowest AT&C losses and best reliability
    indices in India.
    ----

    Registered Office: “Samanvay”, 600, Tapovan, Ambawadi, Ahmedabad 380 015


    Phone: (079) 26628000, CIN: L31200GJ2004PLC044068
    Website: www.torrentpower.com; E-mail: [email protected]

    Page 2 of 2

    You might also like