Ahmedabad, Gujarat, February 04, Torrent Power Limited today announced financial results for the quarter ended December 31, 2024.
According to a statement issued by the company here today, The major reasons for higher TCI by Rs. 121 Crores for the quarter on y-o-y basis are:
Increase in contribution from gas-based power plants.
Gain on sale of Non-Current Investments.
Reduction in contribution from renewable business as lower wind resources causes reduction in PLF.
Capex & commissioning of additional renewable generation capacities lead to increase in Finance & Depreciation Costs.
The Board of Directors, at its meeting of even date, has approved interim dividend of ₹ 14.00 per equity share.
Major developments during the quarter: The Company successfully completed Rs 3,500 Crores (approx. USD 413.20 million) Qualified Institutions Placement (“QIP”). The QIP, maiden equity raise by the Company, received overwhelming response from marquee global and domestic investors.
The Company executed Energy Storage Facility Agreement for developing and supplying 2,000 MW / 16,000 MWh Pump Storage Hydro power from MSEDCL.
The Company commissioned 300 MW Solar Power Project having PPA with its own Distribution circle.
