Quarterly Results: Torrent power
Shital Jibhe / 28 Oct 2016
Torrent Power’s Q2FY17 consolidated numbers have come in above Bloomberg estimates. Revenue has come in marginally higher (1%) than the estimated Rs 2,652 cr. The company has reported a net profit that was 54.9% higher than the estimate of Rs 91 cr.
Consolidated Results Q2FY17: (Rs. in crore)
***EBITDA margin change in bps
Torrent Power’s Q2FY17 consolidated numbers have come in above Bloomberg estimates. Revenue has come in marginally higher (1%) than the estimated Rs 2,652 cr. The company has reported a net profit that was 54.9% higher than the estimate of Rs 91 cr.
The consolidated net revenue for the quarter is lower by 14% yoy to Rs 2,678 cr.
Reported EBITDA has fallen by 16.7% yoy to Rs 658 cr and EBITDA margins have contracted 81 bps yoy to 24.6%.
And net profit has declined 42.9% yoy to Rs 141 cr due to 58% yoy drop in other income.
Technical View:
Torrent Power Ltd., has ended at Rs. 172.4, down by 1.95 points or 1.12% from its previous closing of Rs. 174.35 on the BSE.
The scrip opened at Rs. 174.2 and touched a high and low of Rs. 174.85 and Rs. 171 respectively. A total of 455647(NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.
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