Torrent Power stock rises 5.5% post Q3 FY22 results announcement

4 Feb 2022 , 01:32 PM

Torrent Power Ltd. announced its results for the quarter ended December 2021 where the company witnessed a robust growth in verticals. On Friday, the company’s stock was trading on a bullish note. 

Company’s consolidated revenue from operations for December 2021 quarter stood at Rs 3,767 crore as against Rs 2,953 crore for December 2020 quarter, up by 28% YoY. Revenue for the 9M period ended December 2021 stood at Rs 10,514 crore against Rs 9,089 crore for the previous 9M period, increasing 16% YoY.

Its EBITDA for Q3 FY’22 was reported at Rs 1000 crore against Rs 908 crore for Q3 FY’21, increasing 10% YoY. EBITDA for the 9M period ending December 2021 was Rs 2738 crore against Rs 2,660 crore for the 9M period ending December 2020, up by 3% YoY.

PAT for the quarter ended December 2021 stood at Rs 369 crore against Rs 322 crore for the quarter ended December 2020, a growth of 15% YoY. PAT for the 9M period ending December 2021 stood at Rs 946 crore against Rs 898 crore for the previous 9M period, increasing 5% YoY.
Torrent Power’s Board has also approved an interim dividend of Rs 9 per equity share in its latest board meeting.

The company recognizes the value of the environment to the community and future generations and is committed to managing its businesses as a responsible Corporate Citizen.

The company anticipates huge growth potential in renewables and returns above COE for selected projects.

Torrent Power was last trading at Rs571.05 up by Rs30.15 or 5.57% from its previous closing of Rs540.90 on the BSE.