Torrent Power reported -4.1% fall in total revenues for the Dec-20 quarter on consolidated basis at Rs2,952.75cr. Being a utility company, the company had limited impact of the pandemic either in terms of top line or in terms of bottom line.
The consolidated Profit after tax (PAT) for the Dec-20 quarter was down -23.3% at Rs318.48cr. The sharp fall may be misleading as the higher profits in the Dec-19 quarter was more due to Rs105cr of tax credit on account of shifting from the old tax regime to the new 22% tax regime.
If that impact is removed then profits would have actually been slightly higher on a yoy basis. As a result of this tax impact, the PAT margins tapered from 13.48% in Dec-19 to 10.79% in Dec-20.
Financial highlights for Dec-20 compared yoy and sequentially
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Torrent Power |
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Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
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Total Income (Rs cr) |
₹ 2,952.75 |
₹ 3,079.00 |
-4.10% |
₹ 3,128.73 |
-5.62% |
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Net Profit (Rs cr) |
₹ 318.48 |
₹ 415.09 |
-23.27% |
₹ 202.40 |
57.35% |
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Diluted EPS (Rs) |
₹ 6.67 |
₹ 8.73 |
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₹ 4.18 |
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Net Margins |
10.79% |
13.48% |
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6.47% |
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