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					</table><p>Gujarat-based power company <a href="https://www.torrentpower.com/" target="_blank" rel="noopener">Torrent Power</a>’s total comprehensive income jumped by 142% year-over-year (YoY) in the fourth quarter (Q4) of the financial year (FY) 2025 to ₹10.85 billion (~$127.12 million) from ₹4.48 billion (~$52.48 million).</p>
<p>Torrent attributed the growth to an increased contribution from gas-based power projects and licensed and franchised distribution businesses. Its tax expenses also decreased, leading to an increase in total comprehensive income.</p>
<p>In its earnings call, the company said that the contribution from the distribution business improved by ₹1.12 billion (~$13.12 million) due to higher volumes, increased return on equity, capitalization of capital expenditure, solar, and other incentives.</p>
<p>Renewable energy projects experienced a low plant load factor (PLF) due to inclement weather conditions and partial commissioning of solar projects.</p>
<p>Solar power generation increased by ₹430 million (~$5.03 million) but was partly offset by lower PLF for wind power projects, with a negative impact of ₹300 million (~$3.5 million). Renewables made a net positive impact of ₹130 million (~$1.5 million) in Q4 FY25.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/Torrent-power-1.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-79606 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/Torrent-power-1.png" alt="" width="446" height="275" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/Torrent-power-1.png 446w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/Torrent-power-1-300x185.png 300w" sizes="(max-width: 446px) 100vw, 446px" /></a></p>
<p>Revenue from operations dropped by 1% YoY to ₹64.56 billion (~$756.4 million) in Q4 FY25 from ₹65.29 billion (~$764.95 million).</p>
<p>Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 3% to ₹12.45 billion (~$145.86 million) in Q4 FY25 from ₹12.06 billion (~$141.29 million) in Q4 FY24.</p>
<p><strong>FY 2025 Results</strong></p>
<p>Torrent Power’s total comprehensive income jumped by 63% YoY in FY25 to ₹30.59 billion (~$358.4 million) from ₹18.82 billion (~$220.5 million).</p>
<p>Revenue from operations of ₹291.65 billion (~$3.41 billion) in FY25, a 7% increase from ₹271.83 billion (~$3.18 billion) in the previous year.</p>
<p>Torrent Power’s EBITDA was ₹57.95 billion (~$678.95 million), an 18% YoY growth from ₹49.04 billion (~$574.56 million).</p>
<p>The company <a href="https://mercomindia.com/torrent-power-raises-%E2%82%B935-billion-in-qualified-institutional-placement">raised</a> ₹35 billion (~$410.07 million) through its maiden qualified institutional placement.</p>
<p>It entered an energy storage facility agreement with Maharashtra State Electricity Distribution for supplying 2,000 MW/16,000 MWh pumped hydro storage power (PSP) projects for 40 years.</p>
<p>In FY25, Torrent Power’s distribution business achieved one of the lowest distribution losses in the country of 2.34%.</p>
<p>In its franchised distribution areas, Agra’s aggregate technical and commercial loss dropped to 6.94% compared to 58.77% when it took over operations in 2010.</p>
<p>The company has 3 GW of renewable energy projects and 3 GW of PSP projects under construction.</p>
<p>Torrent has an operational solar capacity of 825 MW, and 1,494 MW is under development. It has an operational wind capacity of 921 MW, and 1,660 MW is under development.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/torrent-power-2.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-79607 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/torrent-power-2.png" alt="" width="732" height="301" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/torrent-power-2.png 732w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/torrent-power-2-300x123.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/torrent-power-2-650x267.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/torrent-power-2-624x257.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/05/torrent-power-2-600x247.png 600w" sizes="(max-width: 732px) 100vw, 732px" /></a></p>
<p>It has ~8.4 GW of PSP projects across Uttar Pradesh and Maharashtra in the pipeline, and 2 GW is tied up with Maharashtra.</p>
<p>It was also awarded 18 KTPA capacity under the production-linked incentive program for green hydrogen production.</p>
<p>It has 355 km of 400 kV double-circuit and 128 km of 220 kV double-circuit transmission lines.</p>
<p>Torrent Power Generation was awarded a transmission project to evacuate power from a 4.5 GW renewable energy project in Khavda, Gujarat, for 35 years.</p>
<p>It was also awarded the Solapur Transmission project for the evacuation of 1,500 MW of renewable energy.</p>
<p>In Q3 FY25, Torrent <a href="https://www.mercomindia.com/torrents-q3-profit-up-31-on-higher-merchant-sales-and-power-demand" target="_blank" rel="noopener">recorded</a> a profit after tax (PAT) of ₹4.89 billion (~$55.9 million), a YoY increase of 31% from ₹3.74 billion (~$42.8 million). The increase in PAT was primarily due to cold weather conditions, which increased power demand. There was a one-time gain in cable sales of about ₹770 million (~$8.8 million).</p>


Power Distribution Businesses Drive Torrent’s Net Profit Up 142% in Q4


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					</table><p><a href="https://www.tatapower.com/" target="_blank" rel="noopener">Tata Power</a>, an integrated power company, recorded a net profit of ₹10.76 billion (~$129.6 million) in the third quarter (Q3) of the financial year (FY) 2024, a growth of 2.2% year over year (YoY).</p>
<p>The company reported a YoY net profit growth for the 17th consecutive quarter.</p>
<p>Tata Power’s consolidated revenue stood at ₹148.41 billion (~$1.78 billion), an increase of 3% YoY.</p>
<p>The increase in net profit and revenue growth primarily resulted from higher earnings in power generation, transmission, and distribution segments.</p>
<p>The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 15% YoY to ₹32.5 billion (~$391.5 million).</p>
<p>Of the company’s over 14 GW of generational assets spread across India, 39% is clean and green energy. The clean energy segment is expected to account for ~54% of capacity post-project completions.</p>
<p>During the quarter, power demand registered a 10% YoY increase.</p>
<p>Tata Power&#8217;s utility-scale solar EPC business secured orders totaling 612 MW, valued at ₹28.94 billion (~$348.6 million). This quarter marked the highest order intake for Tata Power, encompassing a 460 MW solar project from SJVN and a 152 MW solar module from NTPC.</p>
<p>The order book for group captive projects reached ₹21.93 billion (~$264.1 million) by the end of Q3, with 73 MW of orders secured during the quarter.</p>
<p>The order book for third-party rooftop solar installations stood at ₹1.49 billion (~$17.9 million). During the quarter, 103 MW of rooftop installations were completed.</p>
<p>In collaboration with Indian Oil Corporation (IOC), Tata Power is set to deploy over 500 electric vehicle charging points nationwide. Partnerships with Kanpur Municipal Corporation and the Assam Government have been established to deploy EV charging infrastructure in Kanpur and Guwahati, respectively.</p>
<p>The company has set a target to achieve 100% clean and green power generation by the fiscal year 2045. The strategic vision includes having clean and green capacity constitute 70% of the total energy production by 2030.</p>
<p><strong>9M 2024</strong></p>
<p>For the first nine months (9M) of the year, the company recorded a net profit of ₹32.35 billion (~$ 389.7 million), marking a growth of 13% YoY. Strong performance across all business segments led to an increase in profits.</p>
<p>Tata Power’s consolidated revenue stood at ₹452.87 billion (~$5.4 billion), an increase of 5% YoY.</p>
<p>The company’s EBITDA grew by 34% YoY to ₹93.42 billion (~$1.12 billion).</p>
<p>Over the 9M, power demand grew 8% YoY.</p>
<p>In September last year, the U.S. International Development Finance Corporation <a href="https://www.mercomindia.com/tata-power-425-million-solar-manufacturing" target="_blank" rel="noopener">approved</a> $425 million in financing for Tata Power Renewable Energy’s upcoming 4.3 GW greenfield solar cell and module manufacturing facility in Tamil Nadu.</p>
<p>Earlier in 2023, TP Solar, another Tata Power subsidiary, was <a href="https://www.mercomindia.com/reliance-renew-tata-power-winners-pli-11" target="_blank" rel="noopener">allotted</a> ₹3.8 billion (~$46 million) for manufacturing 4 GW of modules under Tranche II of the Solar Modules Manufacturing Performance-Linked Incentive program.</p>


Tata Power Reports Net Profit for 17th Consecutive Quarter in Q3 FY 2024

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