Torrent Power Q3 Results | Net profit surges 31% to ₹489 crore; declares interim dividend

Torrent Power Ltd on Tuesday (February 4) reported a 30.8% year-on-year (YoY) jump in net profit at ₹489.3 crore for the third quarter that ended December 31, 2024 over ₹374.1 crore in Q3 FY24.

Revenue from operations increased 2.1% to ₹6,499.4 crore against ₹6,366 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA was up 6.5% to ₹1,111.6 crore in the third quarter of this fiscal over ₹1,044 crore in the year-ago period.

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The EBITDA margin stood at 17% in the reporting quarter compared to 16.4% year-on-year. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Torrent Power reported a 33% YoY rise in total comprehensive income (TCI) to ₹490 crore in Q3 FY25, compared to ₹369 crore in the same quarter last year. For the nine-month (9M) period of FY25, TCI increased 38% to ₹1,974 crore YoY from ₹1,434 crore in FY24.

The increase in TCI for the third quarter was driven by higher contributions from gas-based power plants and gains from the sale of non-current investments, the company said.

However, a decline in renewable business contribution due to lower wind resources and an increase in finance and depreciation costs, following the capex and commissioning of additional renewable generation capacities, partially offset these gains.

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The board of directors has approved an interim dividend of ₹14 per equity share for FY25.

The results came after the close of the market hours. Shares of Torrent Power Ltd ended at ₹1,351.70, up by ₹0.35, or 0.026%, on the BSE.