Torrent Power Ltd's Q3FY19 consolidated net profit rises 15.6% yoy to Rs238cr
The company’s consolidated revenue stood at Rs3,253cr, up 18.4% yoy but down 5.6% qoq.
Feb 05, 2019 12:02 IST India Infoline Research Team
Torrent Power Ltd Q3FY19
Consolidated Results Q3FY19: (in Rs cr)
| Q3FY19 | YoY (%) | |
|---|---|---|
| Revenue | 3,253 | 18.4 |
| EBITDA | 736 | [7.2] |
| EBITDA Margin (%) | 22.6 | [625] |
| Net Profit (adjusted) | 238 | 15.6 |
----------------------------------------------------------------------------------------------------------------------------------------------------------------
Torrent Power reported sharp growth in earnings in Q3FY19 due to a lower tax rate for the quarter. Revenue rose 18.4% yoy to Rs3,253cr. EBITDA stood at Rs736cr, down 7.2% yoy, while EBIDTA margins contracted 625bps yoy to 22.6%. Net profit in the quarter ended December 2018 stood at Rs238cr, up 15.6% yoy.
- EBITDA margins for Q3FY19 were impacted due to higher fuel costs and higher power purchases. Fuel costs and power purchases rose 29.2% yoy and 40.9% yoy, respectively, in Q3FY19.
- Earnings rose 15.6% yoy in Q3FY19 as the tax rate for the quarter stood at 6.1%, against a tax rate of 32% for FY18.
- Other income stood at Rs53cr, up 20.3% yoy.
Technical View:
Torrent Power Ltd share price is currently at Rs246, up 2.75 points, or 1.13%, from its previous close of Rs243.25 on the BSE. The scrip opened at Rs243.70 and touched a high and low of Rs248.35 and Rs242.10, respectively. A total of 17,21,778 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50-DMA.
