TORRENT POWER LTD Announces Quarterly Results (1QFY21); Net Profit Up 35.2%

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TORRENT POWER LTD Announces Quarterly Results (1QFY21); Net Profit Up 35.2%
Tue, 18 Aug

TORRENT POWER LTD has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

TORRENT POWER LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m37,36129,83530,0710.8%-19.5%
Other incomeRs m545373347-7.2%-36.4%
TurnoverRs m37,90630,20830,4170.7%-19.8%
ExpensesRs m29,02521,56520,377-5.5%-29.8%
Gross profitRs m8,337-1,7309,69416.3%
DepreciationRs m3,2063,3503,159-5.7%-1.5%
InterestRs m2,4772,2242,203-0.9%-11.1%
Profit before taxRs m3,199-6,9314,67846.3%
TaxRs m433-4,191940117.1%
Profit after taxRs m2,766-2,7393,73935.2%
Gross profit margin%22.3-5.832.2
Effective tax rate%13.560.520.1
Net profit margin%7.3-9.112.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 19.5% on a year-on-year (YoY) basis. The expenses were down by 29.8% YoY during the same period.
  • The company's operating profit increased by 16.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.2% in 1QFY21 as against 22.3% in 1QFY20.
  • Depreciation charges declined by 1.5% and finance costs declined by 11.1% YoY, respectively.
  • Other income declined by 36.4% YoY during the quarter.
  • Net profit for the quarter increased by 35.2% YoY. Net profit margins during the quarter increased from 7.3% in 1QFY20 to 12.3% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.5% QoQ during the same period.
  • The company's operating profit declined by 660.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.2% in 1QFY21 as against 5.8% in 4QFY20.
  • Net profit for the quarter increased by 236.5% QoQ, while net profit margins increased from -9.1% in 4QFY20 to 12.3% in 1QFY21.

To see how TORRENT POWER LTD has performed over the last eight quarters,please visit here.

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TORRENT POWER LTD Share Price Performance

Over the last one year,TORRENT POWER LTD share price has moved up from Rs 288.8 to Rs 345.2, registering a Gain of Rs 56.4 or around 19.5%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 1,624.1 (down 0.0%). Over the last one year it has moved down from 1,906.1 to 1,624.1, a gain of 282 points (down 14.8%).

Overall, the S&P BSE SENSEX is up 2.3% over the year.

Current Valuations

At the current price of Rs 345.2, the price to earnings (P/E) ratio of TORRENT POWER LTD stands at 13.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.

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