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Business Standard
15-05-2025
- Business
- Business Standard
Torrent Power Q4 PAT soars 146% YoY to Rs 430 cr; declares dividend of Rs 5/sh
Torrent Power reported consolidated net profit of Rs 1,059.57 crore in Q4 FY25 zoomed 146.27% as against Rs 430.24 crore in Q4 FY24. However, revenue from operations fell 1.10% year on year to Rs 6,456.34 crore in the quarter ended 31 March 2025. Profit before tax for the quarter was at Rs 619.25 crore, marginally up 0.34% from Rs 617.11 crore recorded in Q4 FY24. During the quarter, EBITDA jumped 3% to Rs 1,245 crore in Q4 FY25 as against Rs 1,206 in Q4 FY24. On the segmental front, revenue from generation was at Rs 1,246.04 (down 43.25% YoY), revenue from transmission and distribution stood at Rs 5,830.18 crore (up 4.15% YoY), and revenue from renewables stood at Rs 251.23 crore (down 4.19% YoY) during the period under review. The company has a total installed generation capacity of 4,838 MWp, which includes 2,730 MW of gas-based capacity, 1,746 MWp of renewable energy capacity, and 362 MW of coal-based capacity. In addition, renewable energy projects totaling 3,154 MWp and 3,000 MW of pump storage capacity are currently under development. Including these projects, the companys total planned generation and pump storage capacity will reach 7,992 MWp and 3,000 MW, respectively. The company distributes nearly 31 billion units to over 4.21 million customers in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat, Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD), Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh. Commenting on the performance, the companys Chairman, Samir Mehta said, FY 25 was a transformative year for the Company, marked by significant advancements across operational, financial and strategic growth initiatives. During the year, the Company completed its highly successful maiden equity raise of Rs 3,500 crores through QIP; which was also the first equity raise by the Torrent Group in the last three decades. The successful completion of the issue, with 4 times oversubscription, underscores TPLs strong credentials and highlights the companys future growth prospects as one of the fastest growing in the countrys power sector. The Company made significant progress in building on its strategic initiatives by entering into first-of-its-kind in India, Energy Storage Facility Agreement (ESFA) with MSEDCL for supplying 2,000 MW / 16,000 MWh Pump Storage Hydro power for 40 years. Our gas-based power projects were able to supply power in merchant market including NVVN tenders and under Sec 11, imposed first time on gas-based power plants by Government, contributing significantly to the bottom-line. Our Distribution business continued to set new operational benchmarks with Distribution loss of 2.34% in our licensed distribution business. This achievement is a testament of our operational capabilities and is the lowest Distribution loss in the country and is comparable to global benchmarks. In our franchised distribution areas, Agra achieved its historic low AT&C losses of 6.94% compared to 58.77% when we took over the operations in Agra in 2010. The Company is well-poised for the next phase of growth with under-construction pipeline of more than 3 GW of renewable projects & 3 GW of Pump Storage Hydro power project alongwith a robust balance sheet endeavouring to deliver sustainable growth for our shareholders. Meanwhile, the company is raising funds through the issuance of non-convertible debentures (NCDs) of up to Rs 3,000 crore, in one or more tranches, via private placement. Further, the board of directors has recommended final dividend of Rs 5 per equity share for FY25. The total dividend for FY25 stands as Rs 19 per equity share, comprising of interim dividend of Rs 14 per equity share and final divided of Rs 5 per equity share. Shares of Torrent Power declined 2.77% to Rs 1,412.65 on the BSE.
BBC News
06-05-2025
- Business
- BBC News
West Midlands entrepreneur agrees settlement over liquidated firm
Entrepreneur agrees settlement over liquidated firm 11 minutes ago Share Save Alex McIntyre BBC News, West Midlands Share Save BBC GB Training (UK) Ltd was run by entrepreneur Lawrence Barton A West Midlands entrepreneur has agreed a settlement with creditors after his former apprentice training business was liquidated amid claims it owed £8.4m. Private training provider GB Training (UK) Ltd was run by Lawrence Barton, whose high-profile roles include director of Birmingham Pride. The firm collapsed in October 2020, with allegations it owed money to bodies including the government's Education and Skills Funding Agency (ESFA) and the West Midlands Combined Authority (WMCA). The settlement was confirmed in a statement from Mr Barton and liquidator Kevin Mawer, which said a confidential "distribution" had been made to creditors and denied any wrongdoing. Mr Barton, who was also Birmingham's first night-time economy champion in 2022 and serves as a West Midlands deputy lord lieutenant, said he was glad the five-year process had reached a conclusion. "I am happy a line has been drawn under it with all the parties involved and I'm now looking forward to continuing my community and business activities," he added. Mr Mawer said he was pleased an agreement had been reached, with creditors recovering "some of their claims". 'Potential irregularities' The ESFA and WMCA, which funded training carried out by GB Training (UK) Ltd, had claimed they were owed £4.76m and £1m respectively, with the North East Surrey College of Technology also claiming £2.63m. According to a report from the liquidator filed with Companies House, the ESFA raised concerns about "potential irregularities" in June 2020. Among the ESFA's concerns, according to the document, was that it had contacted two people who were supposed to have completed training but who stated they "had never done an apprenticeship". The WMCA also confirmed to the BBC previously that it had written to the liquidator to raise concerns. Mr Barton said the allegations of "funding overclaims" by the ESFA and others were never proven and the settlement "in no way represents an acceptance of any culpability or guilt on the matter". "I remain concerned about the conduct of the investigation, the devastating impact it had on the company which I had worked more than 20 years to create and the loss of jobs and services to learners that ensued," he added. The WMCA has been contacted for a comment and the ESFA previously said it would not comment on individual cases. Follow BBC Birmingham on BBC Sounds, Facebook, X and Instagram. More on this story Entrepreneur's ex-firm faces claims of £8.4m owed
Daily Express
30-04-2025
- Sport
- Daily Express
80 attend basic skills coaching clinic
Published on: Wednesday, April 30, 2025 Published on: Wed, Apr 30, 2025 By: GL Oh Text Size: All the participants and officials at the clinic. Kota Kinabalu: Some 80 students aged 13-15 took part in the a basic skills coaching clinic organised by the Ex State Footballers Association (ESFA) at SMK Gunsanad II in Keningau over the weekend. ESFA president Datuk James Wong was very pleased with the big turnout for their first clinic of the year. 'The two-day clinic was conducted by ex-internationals Yap Wai Loon and Razali Zinin with assistance from the school teachers for the boys, while the girls side was led by ex-international Nortinah Ongkalis assisted by a few ex-State ladies players. 'It was really good to see the young boys and girls reacting to the clinic. They were clearly happy to be taught the simple basic skills. 'A big shout out to the Headmaster of SMK Gunsanad II Mike Eping for allowing the clinic to be held on the school's field and it was also good to see the presence of several ex-State players in the likes of Gerald Mojiliu, Aliron Nulantan, Henry Anjun, Yassin Jimbun and Karim Ansaroi, who came out to give us support,' he said. He also expressed his gratitude to another ex-State player Shanmugam Sundram for coordinating the clinic. He added that the programme received positive response and there are requests to hold similar clinics in Sook, Nabawan and Tambunan. However, he said this may only be possible after the next clinic to be held in Ranau. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
