Torrent Power
Result expectation
Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission, and distribution with operations in the states of Gujarat, Maharashtra, and U and Uttar Pradesh. During the September quarter, it has reported weak financial and management said that the company said the performance of franchised distribution businesses was impacted due to COVID 19 pandemic causing a reduction in electricity demand mainly in commercial and industrial customer categories and an increase in T&D loss. Decrease I in contribution from renewable generation due to abnormally lower wind speeds during the quarter, lower contribution from merchant power sales due to lower prices of electricity in the spot market also impacted revenue. This was offset by a decrease in interest cost, both due to lower debt and a reduction in interest rates. On the basis of management comment, December quarter result expectation is mute and pressure on margin may see.