Torrent Power net profit rises over 15% to Rs 238.19 crore in Q3

Torrent Power's total income increased to Rs 3,306.83 crore during October-December 2018, from Rs 2,792.83 crore in the year-ago period

Torrent Power posted a 15.63 per cent jump in consolidated net profit to Rs 238.19 crore in the December 2018 quarter.

It had posted a consolidated net profit of Rs 205.98 crore in the corresponding quarter of last fiscal, according to a company statement.

The board of directors in its meeting on Tuesday also approved issuance of non-convertible debentures up to Rs 1,000 crore in one or more tranches by way of private-placement basis within the overall borrowing limits of the company as approved by the shareholders, the statement added.

The company's total income increased to Rs 3,306.83 crore during October-December 2018, from Rs 2,792.83 crore in the year-ago period.

It has an aggregate installed power generation capacity of 3,663 MW, comprising 2,730 MW of gas-based capacity, 571 MW of renewable capacity and 362 MW of coal-based capacity.

It has an additional 940 MW of under-construction renewable power projects. On completion of these projects, the aggregate renewable capacity would stand at 1,511 MW and the aggregate total capacity would be over 4,600 MW.

The firm distributes nearly 15.96 billion units of power to over 3.23 million consumers in Ahmedabad, Gandhinagar, Surat and Dahej SEZ in Gujarat, Bhiwandi in Maharashtra and Agra in Uttar Pradesh.