Torrent Power jumps as higher revenues lead to 15% YoY rise in Q3 profit

NEW DELHI - Shares of Torrent Power added 3.1 per cent in early trade Friday as the power generator posted a nearly 15 per cent rise in its consolidated net profit at Rs 369.45 crore in the December quarter, mainly on the back of higher revenues.

The company had reported a consolidated net profit of Rs 321.73 crore in the quarter ended December 31, 2020.

The counter rose to a high of Rs 556.65 against Rs 539.85 at the previous close on the National Stock Exchange.


According to a PTI report, the company’s total income rose to Rs 3,833.14 crore in the quarter under review from Rs 2,990.11 crore in the same period a year ago.

The board in its meeting on Thursday, also approved an interim dividend for 2021-22 of Rs 9 per equity share on 48,06,16,784 equity shares of Rs 10 each, the news agency reported.

The dividend will be remitted on or after February 28, 2022, to the equity shareholders, whose names appear on the Register of Members of the company and Register of Beneficial Owners maintained by the depositories as on the record date i.e. Friday, February 11, 2022, fixed for the purpose, PTI’s report said.

Torrent Power, the Rs 12,173-crore integrated power utility of the Rs 20,500 crore Torrent Group, is one of the largest companies in the country’s power sector with a presence across the entire power value chain generation, transmission and distribution.