Torrent Power’s Distribution Business Recovering In Q3: Motilal Oswal
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Torrent Power’s Distribution Business Recovering In Q3: Motilal Oswal

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Motilal Oswal Report

Torrent Power Ltd.’s Q3 FY21 result highlights normalising demand at its distribution franchisee business.

Adjusted Ebitda fell 1% YoY to Rs 8.3 billion.

The distribution business was impacted by lower volumes due to the impact of the Covid-19 outbreak.

A recovery in demand and collections and a healthy balance sheet have helped it tide over this wave.

Renewable generation was up 32% YoY at 317 million units, led by capacity addition.

Interest costs decreased 6% QoQ/19% YoY to Rs 1.9 billion (versus our expectation of Rs 2.1 billion) on the back of lower debt and borrowing costs (down 140 basis point YoY).

Click on the attachment to read the full report:

Motilal Oswal Torrent Power Q3FY21 Result Update.pdf

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