Torrent Power shares plunged as much as 17.58 per cent on Thursday after the company on Wednesday after market hours reported 84.71 per cent fall in net profit figures at Rs 27.76 crore for the quarter ended March 2016 against Rs 181.61 crore in the corresponding quarter a year ago.
At 12.26 pm, shares of Torrent Power were trading 14.53 per cent down at Rs 194.15. The scrip opened at Rs 207.20 and has touched a high and low of Rs 208.15 and Rs 187.20, respectively, in trade so far.
Later, the scrip closed 11.36 per cent down at Rs 201.35.
Net Sales of the company jumped 3.90 per cent year-on-year (yoy) to Rs 2,440.02 crore in the quarter under review. The company had posted a net sales of Rs 2,348.43 crore in the same quarter a year ago.
On a standalone basis, net profit of Torrent Power dipped 95.38 per cent yoy to Rs 17.06 crore for the quarter ended March 2016 against Rs 369.43 crore in the same quarter last year.