Torrent Power hits three-year low as Q1 net halves
Operating profit margin declined to 16% from 31% for the quarter under review.
Torrent Power has tanked 8.2% at Rs 156, its lowest level since June 2009, after reporting 70% year-on-year (yoy) drop in net profit at Rs 104 crore for the quarter ended June 2012, due to higher power purchase cost. Operating profit margin too, declined to 16% from 31% for the quarter under review.
Total income from operations grew marginally 2% at Rs 2,120 crore, while power purchase cost surged 71% at Rs 909 crore on y-o-y basis, a leading private sector player, Torrent Power said in a regulatory filing.
The trading volumes on the counter more than double, with a combined 159,753 shares have changed hands so far on the NSE and BSE.