 "Torrent Power hits 52-week high post Q2 results")
Torrent Power has rallied 9% to Rs 199, also its 52-week high on the BSE, in otherwise weak market after the reported a consolidated net profit of Rs 246 crore for the quarter ended on September 30, 2015 (Q2).
The company engaged in generation, transmission and distribution of electricity business had registered a net profit of Rs 24 crore for the corresponding period a year ago.
The financial performance between the corresponding periods "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 crore. It had posted total income of Rs 2,701 crore a year ago.
The trading volumes on the counter more than doubled with a combined 2.45 million shares already changed hands on the BSE and NSE till 09:47 am.
The company engaged in generation, transmission and distribution of electricity business had registered a net profit of Rs 24 crore for the corresponding period a year ago.
The financial performance between the corresponding periods "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 crore. It had posted total income of Rs 2,701 crore a year ago.
The trading volumes on the counter more than doubled with a combined 2.45 million shares already changed hands on the BSE and NSE till 09:47 am.
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