Torrent Power Limited has announced its financial results for the quarter ending June 30, 2024. Let’s have a look at the key highlights.
Financial Performance
Revenue Growth: The company’s revenue from operations surged to Rs 71.93 billion, an increase of 50.3 per cent from Rs 47.87 billion in the prior quarter and 33.6 per cent from Rs 53.83 billion in the same quarter last year.
Profit Metrics: Profit before tax reached Rs 12.73 billion, nearly doubling with an increase of 105.1 per cent from Rs 6.21 billion in the previous quarter and up by 99.3 per cent from Rs 6.39 billion year-over-year. After taxes, the profit stood at Rs 9.73 billion, a 119.4 per cent increase from Rs 4.44 billion in the last quarter of the previous financial year.
Financial Health and Ratios
Torrent Power’s Earnings Per Share (EPS) increased to Rs 20.25, up 119.4 per cent from Rs 9.23 in the previous quarter. The current ratio stood at 1.96, with a debt-equity ratio improving to 0.70 from 0.75. The debt service coverage ratio was 2.12 and the interest service coverage ratio was 7.79.
Torrent Power remains steadfast in its commitment to sustainable growth, enhancing shareholder value, and contributing effectively to India’s energy security. The financial metrics indicate a strong trajectory towards achieving these strategic goals, backed by sound financial practices and robust market performance.