Q2 2025 Torrent Power Ltd Earnings Call Transcript
Key Points
- Torrent Power Ltd (BOM:532779) reported a PBT of INR689 crore for Q2 FY25, which includes a nonrecurring credit of INR67 crore.
- The company was awarded pumped storage hydro projects of 2 gigawatts in an auction conducted by MSEDCL.
- Torrent Power Ltd (BOM:532779) has a pipeline of 3 gigawatts of renewable power projects and 2 gigawatts of pumped storage hydro projects.
- The company is expanding into green hydrogen, with a pilot project in UP and an allocation of 18 Ktpa of green hydrogen production under SECI PLIs tender.
- The company has identified project sites with a potential of 8.4 gigawatts of pumped storage hydro in Maharashtra and UP, with pre-feasibility studies completed.
- Reported PBT for the quarter decreased by 7% compared to the same quarter last year, with a reduction of INR52 crore.
- Contribution from the thermal generation business reduced by about INR80 crore due to lower merchant power sales and higher O&M expenses.
- The renewable generation contribution decreased by INR29 crore due to lower PLF from existing wind and solar power plants.
- Employee costs increased by 18% and other expenses by 14% compared to Q2 last year.
- The company faced challenges with lower electricity demand due to extended monsoon, impacting merchant sales and wind and solar PLF.
Ladies and gentlemen, good day, and welcome to the Torrent Power Limited Q2 FY25 Conference Call.(Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Saurabh Mashruwala, CFO from Torrent Power Limited. Thank you, and over to you, sir.
Thank you so much. Good evening to all of you and thank you for joining earnings call of Torrent Power for Q2 FY25. First, I will take you to the performance of third quarter, after which phone lines will be opened for a Q&A session. We'll explain the performance of the company at PBT level first and then we'll take you through the tax expenses separately.
Reported PBT for the quarter stood at INR689 crore compared to INR741 crore in the corresponding quarter last year, a reduction of INR52 crore is about 7% reported business. PBT for the current quarter includes nonrecurring credit of INR67 crore on account of two factors: first, accounting of INR99 crore on receipt of favourable order in the
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