The company reported a profit before tax of Rs 668.24 crore in Q4 FY23 as compared to a pre-tax loss of Rs 703.33 crore posted in Q4 FY22.

During Q4 FY23, total expenses spiked 68.48% YoY to Rs 5,465.46 crore. Electrical energy purchased cost stood at Rs 3,410.34 (up 110.8% YoY) and cost of materials consumed was at Rs 94.51 crore (up 72.37% YoY) while employee benefits expense was Rs 151.15 crore (up 40% YoY).

EBITDA rose 9% to Rs 1,186 crore in Q4 FY23 as compared to Rs 1,088 crore posted in the same period last year.

For the full year, the company reported net profit of Rs 2,164.67 crore in FY23, steeply higher than Rs 458.70 crore in FY22. Revenue from operations soared 80.21% YoY to Rs 25,694.12 crore in FY23.

Samir Mehta, chairman said, “During the year, we successfully integrated 5 acquisitions – licensed distribution business of Daman & Diu and Dadra Nagar Haveli, wind power plants of 156 MW and solar power plants of 125 MW. The company incurred a capex of Rs 2,938 crore during the year. We also successfully navigated through the volatility in LNG prices on account of the Russia – Ukraine war.

Given the company's strong balance sheet and unique positioning as an integrated power utility, the company is well poised to pursue growth opportunities across the entire power value chain.”

Meanwhile, the board recommended a final dividend of Rs 4 per equity share and it will be paid to the members subject to deduction of tax at source on or before 8 September 2023, subject to members' approval.

Further, the company's board approved issuance of non-convertible debentures upto Rs 3,000 crore in one or more tranches by way of private placement, subject to approval of the members.

Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission and distribution.

Shares of Torrent Power declined 1.10% to Rs 549.05 on the BSE.