Torrent Power Q1 income Rs 921 crores, PAT Rs 36 crores

Ahmedabad, Jul 30 (UNI) Torrent Power Limited today announced its financial results for the first quarter ended June 30, 2007.

During the period under review, the net sales from operations stood at Rs 897.87 crores and total income at Rs 920.95 crores.

While the PBT for the period was Rs 66.80 crores, the PAT for the period was Rs 35.99 crores.

However, comparative figures for the same quarter in the previous year are not available as the company did not have any operations during the said period, a release here today said.

Erstwhile Torrent Power AEC Limited, Torrent Power SEC Limited and Torrent Power Generation Limited, were amalgamated with Torrent Power Limited in September 2006.

Torrent Power distributed 2402 million inits of power in the quarter, which includes 413 million inits distributed in Bhiwandi Circle of Maharashtra.

After taking over the operations in Bhiwandi circle from January 26, 2007, Torrent Power has taken a host of measures for strengthening the T&D network and initiated steps for customer services, metering and improving the collection efficiency. These measures have resulted in reduction of T&D losses in the Bhiwandi circle by almost 10% to 32.29 per cent and improvement in collection efficiency to 71 per cent, the release said. The company incurred a loss of Rs 7.71 crores for its Bhiwandi operations during the period compared to Rs. 13.10 crore loss incurred in the period till March 31, 2007 starting from January 26, 2007.

Torrent Power is implementing 1130 MW SUGEN gas based mega power project near Surat where the construction is in full swing. The project, using the advanced class gas turbines is scheduled to be commissioned during 2007-08.

UNI