Torrent Power elevates Varun Mehta as director on board

Torrent Power on Monday said its consolidated net profit more than doubled to Rs 502.01 crore in the April-June quarter.

Torrent Power elevates Varun Mehta as director on board
Torrent Power currently has an aggregate installed generation capacity of 4.1 GW, consisting largely of clean generation sources such as gas and renewables.

Ahmedabad-based Torrent Power has elevated executive director Varun Mehta, a third-generation scion of the founding family, as a director on the company’s board with effect from Monday. This follows the induction of Aman Mehta into the board of Torrent Pharma.

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Commenting on the appointments, Torrent Group chairman Samir Mehta said: “We are working on strengthening our existing position in the pharma, power and gas sectors and have put in place plans to further diversify beyond these sectors. With the recent appointments of Varun as a director of Torrent Power and Aman as a director of Torrent Pharma, we are gearing up at the Group to pursue its growth ambitions.”

Torrent Power currently has an aggregate installed generation capacity of 4.1 GW, consisting largely of clean generation sources such as gas and renewables. It also has a capacity of 0.7 GW of renewable energy plants under development. Torrent Power’s total generation capacity, including the under-development portfolio, is around 4.8 GW with a renewable portfolio of more than 1.7 GW.

Torrent Power profit surges to Rs 502 crore

Torrent Power on Monday said its consolidated net profit more than doubled to Rs 502.01 crore in the April-June quarter. The consolidated net profit stood at Rs 207.78 crore in the corresponding quarter of the previous fiscal, Torrent Power said in a BSE filing. Total income also rose to Rs 6,618.62 crore from Rs 3,135.23 crore in the same period a year ago.

With PTI inputs

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