Torrent Power shares gain post Q2 results

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Mumbai | Updated: October 29, 2015 4:23:25 PM

Shares of Torrent Power today surged over 9 per cent, to touch one-year high level, after the firm reported consolidated net profit of Rs 246.27 crore for the quarter ended September 30.

torrent power share priceShares of Torrent Power today surged over 9 per cent, to touch one-year high level, after the firm reported consolidated net profit of Rs 246.27 crore for the quarter ended September 30.

Shares of Torrent Power surged as much as 9 per cent on Thursday after the company reported consolidated net profit of Rs 246.27 crore for the quarter ended September 30.

The share price of Torrent Power closed 3.85 per cent up at Rs 190.40.

Torrent Power on Wednesday reported a consolidated net profit of Rs 246.27 crore for the quarter ended September 30. The company had posted a net profit of Rs 23.73 crore in the same period a year ago.

The financial performance between the two corresponding period “are not comparable” as the company is in the process of amalgamation of Torrent Energy Limited (TEL) and Torrent Cables Limited (TCL) with Torrent Power Limited (TPL) which was approved Gujarat High Court in August.

The total income from operations of the company during the reported period was Rs 3,106.27 crore.

Torrent Power had posted total income of Rs 2,701.04 crore a year ago.

(With inputs from PTI)

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