 "Torrent Power's stand-alone net dips by 41.92% at Q2")
Ahmedabad-based Torrent Power Limited on Thursday announced its financial results for the quarter that ended on September 30, 2016.
The company's stand-alone net profit decreased by 41.92% to Rs 138.68 crore in the second quarter as against Rs 238.80 crore in the corresponding period last year.
The company's stand-alone net profit decreased by 41.92% to Rs 138.68 crore in the second quarter as against Rs 238.80 crore in the corresponding period last year.
The company has registered 13.66% decline in net income after standing at Rs 2,675.69 crore in Q2 from Rs 3,099.11 crore in the corresponding period in 2015.
Torrent Power said, "Recovery of partial fixed cost of DGEN and UNOSUGEN power plants in Q2, due to the gas allocation under the 'Scheme for Utilization of Gas Based Power Generation Capacity' issued by Ministry of Power, is one of the reasons for variation."
Consolidated net profit of the company decreased by 43.49% to Rs 140.17 crore as against Rs 248.08 crore in the second quarter of FY 2015-16. The company has reported a 13.98% fall at Rs 2,677.59 crore as against Rs 3,112.92 crore in the same period FY16.
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