Torrent Power Q1 net down 44% to Rs 208 cr, revenue up marginally

The company recently signed a Securities Purchase Agreement with a JV of Lightsource BP and UKCI to acquire a 50 Mw solar power project at Maharashtra for an enterprise value of Rs 317 cr

Torrent Power Limited has posted a consolidated net profit of Rs 207.78 crore for the quarter ended June 30, 2021, down by 44 per cent from Rs 373.87 crore for the said quarter last year, according to the company's filings with the stock exchanges.

The company's consolidated revenue from operations were up marginally by three per cent to Rs 3,135.23 crore for Q1 of fiscal year (FY) 2021-22, as against Rs 3,041.72 crore of Q1 of previous FY 2020-21.

According to the company, Torrent Power's Total Comprehensive Income (TCI) for the quarter was lower by Rs 159 crore compared to Q1 of