Torrent Power stock price: Torrent Power surges as rising revenue drives 15% YoY increase in third-quarter profit

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NEW DELHI – Shares of Torrent Power rose 3.1% in early trading on Friday as the power producer posted a nearly 15% increase in its consolidated net profit to Rs 369.45 crore in the quarter of December, mainly thanks to higher incomes.

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 report by PTI, the company’s total revenue 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, at its meeting on Thursday, also approved an interim dividend for 2021-22 of Rs 9 per share out of 48, 06, 16,784 shares of Rs 10 each, the news agency reported.

The dividend will be paid from February 28, 2022 to shareholders whose names appear in the company’s register of shareholders and in the register of beneficial owners kept by the depositaries on the record date, i.e. Friday 11 February 2022. , set for this purpose, according to the PTI report.

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

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