TORNTPOWER · Power
Torrent Power Ltd. reported revenue of ₹6,529 cr for January to March 2024, — on the year and +2.6% on the quarter.
Operating profit (EBITDA) was ₹1,109 cr, a margin of 17.0%, — on the year and +59 bps on the quarter.
Net profit was ₹447 cr, — on the year and +19.5% on the quarter, with earnings per share of ₹8.95.
Most power earnings are regulated returns on equity, with fuel costs passed through, so revenue can swing with fuel prices while profit moves far less. The quarterly statements do not carry plant load factor, capacity added and regulated equity; those come with the filing read.
On earnings per share of ₹38.14 over the last four quarters, the stock at ₹1,236.00 trades at 32.4 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹6,366 cr | ₹6,529 cr | ₹9,034 cr | ₹7,176 cr | ₹6,499 cr | ₹6,456 cr | ₹7,906 cr | ₹7,876 cr | ₹6,778 cr | ₹6,406 cr | ₹8,124 cr | ₹9,802 cr |
| YoY | — | — | +23% | +3% | +2% | −1% | −12% | +10% | +4% | −1% | +3% | +24% |
| EBITDA margin | 16.4% | 17.0% | 20.6% | 16.8% | 17.1% | 17.5% | 18.8% | 19.1% | 20.7% | 17.9% | 18.9% | 17.7% |
| Other income, % of PBT | 11% | 16% | 6% | 18% | 27% | 18% | 11% | 8% | 9% | 13% | 9% | 22% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 27% | 28% | 24% | 28% | 22% | — | 25% | 24% | 19% | 39% | 28% | 26% |
| Net profit | ₹374 cr | ₹447 cr | ₹996 cr | ₹496 cr | ₹489 cr | ₹1,077 cr | ₹742 cr | ₹742 cr | ₹655 cr | ₹331 cr | ₹662 cr | ₹838 cr |
| YoY | — | — | +87% | −9% | +31% | +141% | −26% | +50% | +34% | −69% | −11% | +13% |
| Core profit YoY | — | — | +98% | −11% | −0% | −3% | −29% | +60% | +61% | −6% | −4% | −2% |
| EPS | ₹7.49 | ₹8.95 | ₹20.23 | ₹10.01 | ₹9.44 | ₹21.03 | ₹14.52 | ₹14.36 | ₹12.76 | ₹6.31 | ₹12.68 | ₹16.28 |
| Flags | · | · | ✓ | ✓ | 1 | 2 | ✓ | ✓ | ✓ | ✓ | ✓ | 2 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Torrent Power Ltd. reported revenue of ₹6,529 cr (— on the year) and net profit of ₹447 cr (— on the year) for January to March 2024.
None of the 2 checks that could run raised a question.
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