NZIPL holds approximately 922 acres of land comprising private and government-leased land in Annupur district, Madhya Pradesh, which is proposed to be used for implementing a thermal power project. The companies have no other assets and reported no turnover in the last three years.
Also Read: Torrent Power is said in talks to buy L&T’s power unit for $1 billionTorrent Power confirmed that the transaction does not fall under related party transactions and was executed on a cash consideration basis. The acquisition is expected to be completed within four months. NZIPL was incorporated on October 12, 1999, and NZPPPL on February 28, 2008, both with the objective of power generation.
First quarter results
Torrent Power reported a 24.7% decline in net profit at ₹731 crore for the first quarter over ₹972 crore in Q1FY25. Revenue from operations fell 12.5% to ₹7,906 crore from ₹9,033 crore a year ago.
At the operating level, EBITDA tanked 20.2% to ₹1,483 crore in the first quarter of this fiscal year over ₹1,857 crore last year. The EBITDA margin fell to 18.7% from 20.6% year-on-year.
Torrent Power reported a total comprehensive income (TCI) of ₹739 crore in Q1FY26, compared to ₹993 crore a year ago.
Also Read: Torrent Power shares rise up to 7% but give up gains after ₹22,000 crore thermal power project
While the company’s underlying business remains resilient, the current quarter’s performance was impacted by lower power demand due to the early onset of monsoon and elevated gas prices, which affected merchant gains from gas-based generation. Adjusted for these factors, TCI remained comparable to the same quarter last year.
Shares of Torrent Power Ltd ended at ₹1,279.20, up by ₹10.65 or 0.84%, on the BSE today, September 23.
(Edited by : Shoma bhattacharjee)
