2 days ago
Torrent Power has estimated an investment of approximately ₹2,650 crore for the project. Shares of Torrent Power Ltd ended at ₹1,399.45, down by ₹34.60, or 2.41%, on the BSE.
Ahmedabad-based Torrent Power Ltd on Thursday (June 12) said its wholly-owned subsidiary, Torrent Green Energy Private Limited, has secured a 300 MW wind power project from the Solar Energy Corporation of India (SECI) under Wind Tranche-XVIII.
Torrent Power has estimated an investment of approximately ₹2,650 crore for the project.
The company received the letter of award on June 11, 2025, following a competitive bidding process. The project will be executed at a tariff of ₹3.97 per unit and is expected to be commissioned within 24 months from the signing of the power purchase agreement (PPA).
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With this project, Torrent’s renewable capacity under development increases to 3.3 GWp. Aligning with its sustainability commitments and the government’s target of achieving 500 GW of non-fossil fuel capacity by 2030, Torrent continues to expand its renewable portfolio.
Q4 profit growth
Torrent Power reported a 146.3% year-on-year (YoY) jump in net profit at ₹1,059.6 crore for the fourth quarter that ended March 31, 2025. In the corresponding quarter of the previous fiscal, Torrent Power posted a net profit of ₹430.2 crore, the company said in a regulatory filing.
The rise in profit was driven by higher contributions from its gas-based power plants and growth in its licensed and franchised distribution businesses. Additionally, a significant reduction in tax expenses contributed to the earnings boost, primarily due to a one-time, non-cash reversal of deferred tax liabilities amounting to ₹637 crore. The company also booked gains from the sale of non-current investments.
Also Read: Torrent Power Q3 Results | Net profit surges 31% to ₹489 crore; declares interim dividend
The company's revenue from operations dipped 1.1% to ₹6,456.3 crore against ₹6,528.6 crore a year ago. At the operating level, EBITDA rose 1.9% to ₹1,130.4 crore in the fourth quarter over ₹1,109 crore year-on-year.
Shares of Torrent Power Ltd ended at ₹1,399.45, down by ₹34.60, or 2.41%, on the BSE.
(Edited by : Shoma Bhattacharjee)
