Torrent Power Q4 Review - Distribution Outperforms; Gas Uncertainty Continues: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Torrent Power Ltd.’s Q4 FY22 numbers were boosted by good performance of the distribution businesses, which saw substantial loss-reduction while power demand reverted to pre-Covid-19 levels, and one-time gains. On consolidated basis, revenues were up 21.4% YoY to Rs 37.4 billion and Ebitda up 8.3% YoY to Rs 9.9 billion. While Torrent Power reported a loss of Rs 4.9 billion due to impairment of Rs 13 billion provided for DGEN, adjusting for one-offs in both Q4 FY22 and Q4 FY21, adjusted profit after tax was flat YoY at Rs 3.5 billion, while adjusted profit before tax was up 19% YoY at Rs 4.8 billion. We believe growth over the next two years will be driven by the distribution businesses with further reduction in aggregate technical and commercial losses, and commissioning renewable energy capacities, although medium-term growth may be sluggish since Torrent Power's participation in RE auctions is limited. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Torrent Power Q4 Review - Distribution Outperforms; Gas Uncertainty Continues: ICICI Securities

Torrent Power Q4 Review - Distribution Outperforms; Gas Uncertainty Continues: ICICI Securities

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