Torrent Power Ltd on Monday announced standalone net loss of ₹222 crore for the fourth quarter ended March 2020, as against the net profit of ₹27 crore in the corresponding quarter last year.
Company has registered standalone revenues of ₹2,931 crore for the quarter under review, as against ₹2,839 crore in the same quarter last year.
Torrent Power has attributed the quarterly loss to one-off impairment assessment of 1,200-MW DGEN Mega Power Project located at Dahej in South Gujarat. “Based on such assessment, the company has provided for impairment loss of ₹1,000 crore, which has been disclosed as an ‘Exceptional item’ in the standalone financial results,” a note on results said.
