TORRENT POWER LTD Announces Quarterly Results (3QFY20); Net Profit Up 76.6%
Fri, 14 Feb

TORRENT POWER LTD has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

TORRENT POWER LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m32,53538,42030,790-19.9%-5.4%
Other incomeRs m533493365-26.0%-31.6%
TurnoverRs m33,06838,91331,155-19.9%-5.8%
ExpensesRs m25,17127,87022,386-19.7%-11.1%
Gross profitRs m7,36410,5508,404-20.3%14.1%
DepreciationRs m3,0743,2193,2681.5%6.3%
InterestRs m2,2872,4952,349-5.8%2.7%
Profit before taxRs m2,5375,3293,152-40.9%24.2%
TaxRs m155-2,227-1,055-782.1%
Profit after taxRs m2,3827,5564,206-44.3%76.6%
Gross profit margin%22.627.527.3
Effective tax rate%6.1-41.8-33.5
Net profit margin%7.219.413.5
* 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 5.4% on a year-on-year (YoY) basis. The expenses were down by 11.1% YoY during the same period.
  • The company's operating profit increased by 14.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.3% in 3QFY20 as against 22.6% in 3QFY19.
  • Depreciation charges increased by 6.3% and finance costs increased by 2.7% YoY, respectively.
  • Other income declined by 31.6% YoY during the quarter.
  • Net profit for the quarter increased by 76.6% YoY. Net profit margins during the quarter increased from 7.2% in 3QFY19 to 13.5% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 19.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 19.7% QoQ during the same period.
  • The company's operating profit declined by 20.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.3% in 3QFY20 as against 27.5% in 2QFY19.
  • Net profit for the quarter declined by 44.3% QoQ, while net profit margins declined from 19.4% in 2QFY19 to 13.5% in 3QFY20.

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 234.8 to Rs 320.6, registering a Gain of Rs 85.9 or around 36.6%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 1,861.8 (down 1.8%). Over the last one year it has moved up from 1,746.9 to 1,861.8, a gain of 115 points (up 6.6%).

Overall, the S&P BSE SENSEX is up 14.8% over the year.

Current Valuations

At the current price of Rs 320.6, the price to earnings (P/E) ratio of TORRENT POWER LTD stands at 10.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.