Torrent Power Reports Q4 FY 2021-22 Results

Torrent Power Limited (the “Company”) today announced financial results for the quarter and year ended March 31, 2022.

Earnings before interest, Depreciation and Tax (EBIDTA) for FY 22 is higher at ₹ 3,826 Crs compared to ₹ 3,607 Crs for FY 21. However, total Comprehensive Income (TCI) for FY 22 is lower due to DGEN impairment charge of ₹ 928 Crs (net of deferred tax reversal) during the year. Adjusted for net DGEN Impairment charge of ₹ 928 Crs, adjusted Total Comprehensive Income (TCI) for FY 22 is higher at 1,389 Crs compared to ₹1,300 Crs for FY 21.

The major reasons for improvement in the adjusted TCI for the y-o-y basis are:

  • Significant Reduction in T&D losses in the Company’s Licensed & franchisee distribution business;
  • Gain from trading of LNG;
  • Decrease in finance costs, both due to lower debt and reduction in interest rates;
  •  Increase in depreciation costs reflecting additional capex in distribution business;
  •  Increase in tax expenses;

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The Company enjoys a strong balance sheet position with some of the best financial ratios amongst private players in the power sector with Net Debt : Equity ratio of 0.80 as at March 31, 2022 and Net Debt to EBITDA ratio of  2.24 as on March 31, 2022.

Commenting on the results, the Company’s Chairman, Mr Samir Mehta said “During the year, the Company continued to focus its growth initiatives in the identified growth engines of

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