MEDIA RELEASE
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Torrent Power reports its Q2 FY 2015-16 results
October 28, 2015: The Ahmedabad-based Torrent Power Limited (the 'Company') today announced its financial resultsfor the quarter ended 30th September 2015.The highlights are as under:
(Rs.Crore)
Consolidated Financial Highlights Q2 FY 1 5 -1 6 Q2 FY 1 4-15
Income from operations | 3,106.27 | 2,701.04 |
EBITDA !Ind.ath•r lnmrM mnd llftlir U1:•ption.i Imm) | 895.:Z3 | 445.01 |
PAT | 246.27 | 23.73 |
The Hon'ble High Court of Gujarat vide its Order dated 13111 August 2015,has sanctioned the Composite Scheme of Amalgamation of Torrent Energy Limited (beingthe wholly owned subsidiary of the Company) and Torrent Cables Limited with Torrent Power Limited and their respective shareholders and creditors under Sections 391 to 394 and other applicable provisions of the Companies Act, 1956. The Scheme has become operational with Effective Date of 1st October 2015 and Appointed Date of 1st April2014. Accordingly,the figures for Q2 FY 15-16 are after giving effect of said Amalgamation,whereas the figures for Q2 FY 14-15 are as reported earlier and hencetothat extent are notcomparable.
The followingare major reasons for variation inQ2 FY 2015-16 results as compared to Q2 FY 2014-15 results:
>Recovery of partialfixed cost of its DGEN and UNOSUGEN power plants dueto availability of gas under 'Scheme for Utilisation of Gas Based Power Generation Capacity' issued by Ministry of Power.
> Recovery of differential fixed cost for the periodfrom 1st April2014to 301h September 2015 pursuant to
Tariff order issued byHon'ble CERC in0ctober 2015 for the period FY 2014-19 forSUGEN power plant.
> Under-recovery of FPPPA in Q2 FY 2014-15.
About Torrent Power Limited:
Torrent Power Limited, the Rs. 10, 880 Crores integrated power utility of the Torrent Group, is one of the largest private sector players in the country present in power generation, transmission and distribution. Its current installed generation capacity is 3202 MW and it distributes nearly 14.01 billion units to over 2.95 million customers in cities of Ahmedabad, Gandhinagar,Surat and Dahej SEZ in Gujarat, Bhiwandi in Maharashtra and Agra in Uttar Pradesh. Torrent Power Limited, in its licensed areas in Gujarat has the distinction of havingone of the lowest T&D losses in the country and better reliability indices. Torrent Solargen Limited,a wholly-owned subsidiary of the Company, has an installed solar generation capacity of 51 MW. Additionally, post amalgamation ofTorrent Cables Limited into Torrent Power Limited,the Company is now also inthe business of manufacturingandsupply of cables.
Registered Office: Torrent House, Off Ashram Road, Ahmedabad- 380 009 Phone: (079) 26585090/26583060 Fax: (079) 26582100 CIN: L31200GJ2004PLC044068
Website: www.torrentpower.com; E-mail: cs@torrentpower.com
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