Torrent Power Limited Reports Unaudited Standalone and Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014
January 31, 2015 at 05:26 pm IST
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Torrent Power Limited reported unaudited standalone and consolidated earnings results for the third quarter and nine months ended December 31, 2014. For the quarter, on standalone basis, the company reported net sales/income from operations of INR 24,495.0 million compared to INR 19,449.7 million a year ago. Profit from operations before other income, finance cost and exceptional items was INR 4,260.6 million compared to profit from operations before other income, finance cost and exceptional items of INR 1,235.6 million a year ago. Profit from ordinary activities before tax was INR 3,206.7 million compared to loss from ordinary activities before tax of INR 51.6 million a year ago. Net profit for the period was INR 2,353.4 million or INR 4.98 per basic and diluted share compared to net loss for the period of INR 418.4 million or INR 0.89 per basic and diluted share a year ago.
For the nine months, on standalone basis, the company reported net sales/income from operations of INR 75,348.7 million compared to INR 62,892.4 million a year ago. Profit from operations before other income, finance cost and exceptional items was INR 9,451.6 million compared to profit from operations before other income, finance cost and exceptional items of INR 3,843.6 million a year ago. Profit from ordinary activities before tax was INR 5,751.6 million compared to profit from ordinary activities before tax of INR 584.0 million a year ago. Net profit for the period was INR 3,726.3 million or INR 7.89 per basic and diluted share compared to net loss for the period of INR 780.1 million or INR 1.65 per basic and diluted share a year ago.
For the quarter, on consolidated basis, the company reported net sales/income from operations of INR 24,903.6 million compared to INR 19,720.7 million a year ago. Profit from operations before other income, finance cost and exceptional items was INR 3,639.3 million compared to profit from operations before other income, finance cost and exceptional items of INR 1,346.7 million a year ago. Profit from ordinary activities before tax was INR 1,578.8 million compared to profit from ordinary activities before tax of INR 31.5 million a year ago. Net profit for the period was INR 687.7 million or INR 1.46 per basic and diluted share compared to net loss for the period of INR 355.1 million or INR 0.75 per basic and diluted share a year ago.
For the nine months, on consolidated basis, the company reported net sales/income from operations of INR 76,385.5 million compared to INR 63,720.6 million a year ago. Profit from operations before other income, finance cost and exceptional items was INR 8,836.7 million compared to profit from operations before other income, finance cost and exceptional items of INR 4,189.6 million a year ago. Profit from ordinary activities before tax was INR 3,907.7 million compared to profit from ordinary activities before tax of INR 725.4 million a year ago. Net profit for the period was INR 1,780.8 million or INR 3.77 per basic and diluted share compared to net loss for the period of INR 721.9 million or INR 1.53 per basic and diluted share a year ago.
Torrent Power Limited is an India-based holding company. The Company operates in three segments: generation, transmission and distribution, and renewables. The Generation segment comprises of generation of power from thermal sources (gas and coal) and trading of Regasified Liqueified Natural Gas. The Transmission and Distribution comprises of transmission and distribution business (licensed and franchisee) and related ancillary services. The segment also comprises Power Cable business. The Renewables segment comprises of generation of power from renewable energy sources, which includes wind and solar. It has a thermal power generation capacity of 3,092 megawatts (MW), with a mix of coal-based, gas-based, solar and wind power plants. It also operates in the renewable energy segment with 787 MW capacity taking the aggregate installed generation capacity to 4110 MW. The Company has set up approximately 249 kilometers (km) and 105 km 400 kV double circuit transmission lines.