1QFY21 results of Torrent Power Ltd - Angel Broking

Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd.

"Torrent Power consolidated revenue from operations for Q1FY21 stood at ₹3,007 crore down by 20% YoY from ₹3736 crore in Q1FY20. EBIT for the quarter stood at ₹1,004 Crore up by 13% as compared to ₹888 Crore in Q1FY20 as power purchase cost has come down significantly due to lower imported LNG prices.Profit after tax for the quarter stood at ₹368 Crore up by 35% as compared to ₹274 Crore in Q1FY20. Lower imported LNG prices are favorable to torrent, we expect LNG prices to recover in medium term."

Shares of TORRENT POWER LTD. was last trading in BSE at Rs.336.75 as compared to the previous close of Rs. 327.45. The total number of shares traded during the day was 401254 in over 7198 trades.

The stock hit an intraday high of Rs. 357.5 and intraday low of 334.8. The net turnover during the day was Rs. 139438855.

Source : Equity Bulls

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