Torrent Power gains on robust Q1 net profit

Net profit for the quarter surged 286% to Rs 309 crore compared with Rs 80 crore in Apr-Jun 2014

Shares of Torrent Power were up over 4% at Rs 171 on the Bombay Stock Exchange after the company reported 286% growth in net profit for the quarter ended June 30, 2015 at Rs 309 crore compared with Rs 80 crore for the same quarter last fiscal on the back of higher otherincome.

Other income for the quarter under review increased 259% to Rs 140 crore compared with Rs 39 crore for the quarter ended June 30, 2014.

Net sales for the April-June quarter improved 12% to Rs 2,785 crore compared with Rs 2,493 crore in the quarter ended June 30, 2014

The stock opened at Rs 170 and touched a high of Rs 177. Over 1.9 million shares were traded on both the stock exchanges.