Torrent Power shares skid over 11 pc on weak Q4 earnings

Shares of Torrent Power slumped over 11 per cent at the close of trade today after the company's net profit for the March quarter plunged by over 95 per cent.
After sinking 17.58 per cent to Rs 187.20 in intra-day trade, shares of the company finally ended at Rs 201.35, down 11.36 per cent on BSE.
At NSE, the stock tumbled 11.33 per cent to close at Rs 201.45.
Following the decline in the stock, the company's market valuation fell by Rs 1,239.78 crore to Rs 9,677.22 crore.
The company's results were announced post-market hours yesterday.
Torrent Power reported a net profit of Rs 17.06 crore for the quarter ended March 2016, down 95.38 per cent compared to the year-ago period.

The company had posted a net profit of Rs 369.43 crore in the corresponding quarter of the previous year.
"Total income is Rs 2,513.7 crore for the quarter ended March 31, 2016 whereas the same was at Rs 2,694.63 crore for the quarter ended March 31, 2015," the company had said in a BSE filing.
Torrent Power posted a net profit of Rs 815.96 crore for 2015-16 as against Rs 742.06 crore for the previous fiscal.