Torrent Power at 52-week low as Q1 net falls 70%

NEW DELHI: Torrent Power Ltd slipped over 6 per cent in opening trade on Wednesday, a day after the company reported nearly 70 per cent decline in its consolidated net profit of Rs 104.43 crore for the three months ended June.

At 10:50 am, Torrent Power was trading 5.8 per cent lower at Rs 159.60. It has hit a low of Rs 158.65 and a high of Rs 168 today.

The entity had a consolidated net profit of Rs 343.57 crore in the year-ago period, the firm said in a regulatory filing today.

“The company’s total income in the latest June quarter climbed to Rs 2,150.86 crore from Rs 2,098.15 crore in the same period a year ago,” PTI reported.

“On a standalone basis, Torrent Power recorded a net profit of Rs 104.36 crore in the 2012 June quarter compared to Rs 348.71 crore in the year-ago period,” the report added.