Torrent Power posts 17% increase in operating revenue in FY22

AHMEDABAD: Electricity distribution company Torrent Power Limited announced on Tuesday that its operating revenue increased by 17% in the 2021-22 financial year.
According to the company’s regulatory filings, its operating income fell from Rs 12,173 crore in the financial year 2021 to Rs 14,258 crore in the financial year 2022. However, the total comprehensive income of the company is rose from Rs 1,300 crore to Rs 461 crore during the financial year.
According to a statement from the company, the total comprehensive income is lower due to the DGEN impairment charge of Rs 928 crore during the year. When adjusted for the net DGEN impairment charge of Rs 928 crore, the total comprehensive income for FY22 is higher at Rs 1,389 crore compared to Rs 1,300 crore for FY21.
The main reasons for the improvement in adjusted earnings include lower transmission and distribution losses coupled with gains from LNG trading and lower financial charges, both due to debt reduction and lower interest rate.
Samir Mehta, Chairman of Torrent Power Limited, said: “During the year, the company continued to focus its growth initiatives on the identified growth drivers of distribution and renewables. In line with this strategy, the company has resumed operations as the Union Territory Distribution Concessionaire of Dadra and Nagar Haveli and Daman and Diu (DNH&DD) effective April 1 this year. Additionally, during the year, the company was able to expand its operational renewable energy portfolio by 231 MW through the acquisition of renewable energy projects and an additional 565 MW projects are under development. acquisition.

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