Torrent Power advances after reporting strong Q4 numbers

Torrent Power rose 3.09% to Rs 195.20 at 10:11 IST on BSE after consolidated net profit spurted 94.7% to Rs 136.09 crore on 1.5% decrease in net sales to Rs 2452.80 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 23 May 2017.

Meanwhile, the S&P BSE Sensex was up 87.83 points, 0.29% at 30,453.08. The S&P BSE Mid-Cap index was down 45.52 points, 0.32% at 14,195.36.

On the BSE, 1.42 lakh shares were traded on the counter so far as against the average daily volumes of 1.51 lakh shares in the past one quarter. The stock had hit a high of Rs 201.75 and a low of Rs 191.50 so far during the day.

The stock had hit a 52-week high of Rs 241.25 on 30 March 2017 and hit a 52-week low of Rs 159 on 3 August 2016. The stock had underperformed the market over the past one month till 23 May 2017, declining 13.78% compared with the Sensex's 3.41% rise. The scrip had also underperformed the market over the past one quarter sliding 5.73% as against the Sensex's 5.1% rise.

The mid-cap company has equity capital of Rs 480.62 crore. Face value per share is Rs 10.

Torrent power's board recommended a final dividend of Rs 2.20 per equity share for the year ended March 2017.

Torrent Power is an integrated utility engaged in power generation, transmission, distribution and manufacturing and supply of power cables.

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