Torrent Power : reports its Q1 FY 2016-17 results More... More...

MEDIA RELEASE w

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P D W E A

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Torrent Power reports its Ql FY 2016-17 results

Consolidated totalincomefrom operations

Rs. 2,588.73 Crore in Ql FY 2016-17 against Rs. 3,072.27Crore inQl FY 2015-16

Major Highlights

Ql FY 2016-17

Consolidated EBDIT (includingotherincome)

Rs. 562.78Crore inQl FY 2016-17 againstRs.845.71Crore inQl FY 2015-16

Consolidated Net Profit aftertax & noncontrollinginterest

Rs.45.62 Crore inQl FY 2016-17against Rs. 223.16 Crore in QlFY 2015-16

August 2, 201 6: The Ahmedabad-based Torrent Power Limited (the "Company") today announced its financial results for the quarter ended 30th June, 2016.

Thefollowingarethe major reasonsfor variation in QlFY 2016-17 results as compared to Ql FY 2015-16 results:

>As perthe consistent policyfollowed bythe Company,it accounts for the truing-up adjustment claims as

and when billed to the consumers. Hon'ble Gujarat Electricity Regulatory Commission (GERC) vide its Tariff Order dated 3151 March 2016 has allowed recovery of Regulatory Charge of 45 paisa/kWh to address the gap of earlier years for the Company's distribution license areas at Ahmedabad and Surat. Against the said GERC Tariff Order,review petitions were filed and GERC vide it's Order dated 22"d April 2016, had restrained the Company from recovering the Regulatory Charge of 45 paisa/kWh. Subsequently,GERC has issued a common Order dated 1st July 2016 revisingthe Regulatory Charge to 18 paisa/kWh and 17 paisa/kWh for Ahmedabad and Surat license areas, respectively,with effect from 1st July,2016. The Company hasappealed before APTEL against the said GERCOrder for which hearings are scheduled. In this context, the Company has not billed to the consumers and consequently not

accounted any RegulatoryChargefor the quarter ended on 30th June, 2016.

>Recovery of partial fixed cost of DGEN and UNOSUGEN power plants in Ql FY 2015-16 due to allocation

of gas under the 'Scheme for Utilisation of Gas Based Power Generation Capacity' issued by Ministry of

Power.

>Recoveryof part arrears ofunrecovered FPPPA pertainingto FY 2014-15 in Q1FY 2015-16.

>Reversal of excess provision in Ql FY 2015-16 due to change in the basis (from PAF to PLF) for charging

balance operational and maintenance expenses for supply and service agreements till the end of the contract periodw.e.f.151 April2014.

About Torrent Power Limited:

Torrent Power Limited,the Rs. 11,962 Crore integrated power utility of the Torrent Group, is one of the largest private sector players in the country present in power generation, transmission and distribution. The Company has installed generation capacity of 3,334 MW.With operational and under-construction projects, the aggregate renewable capacity of the Company would reach to nearly 520 MW. The Company distributes nearly 14.67 billion unitsto over 3 million customers inthe cities of Ahmedabad, Gandhinagar,Surat and DahejSEZ inGujarat, Bhiwandi in Maharashtra and Agra in Uttar Pradesh. Torrent Power Limited,in its licensed areas in Gujarat has the distinction of having one of the lowest T&D losses in the country and high reliability indices. Torrent Power Limited is also inthe business of manufacturingand supply of cables.

Registered Office: Torrent House, Off Ashram Road,Ahmedabad- 380 009 Phone: [phone] Fax: [phone] CIN: L31200GJ2004PLC044068

Website: www.torrentpower.com;E-mail: cs@torrentpower .com