Torrent Power shares up 4% at close post Q2 earnings

Shares of Torrent Power today ended with 4 per cent gains after the firm reported consolidated net profit of Rs 246.27 crore for the quarter ended September 30.
The stock settled at Rs 190.40, up 3.85 per cent on BSE. During the day, it had jumped 8.97 per cent to Rs 199.80 -- its 52-week high.
On NSE, it was up 4 per cent at Rs 190.65 at close of trade.
In terms of volume, 11.73 lakh shares of the company changed hands at BSE and over 47 lakh shares were traded at NSE during the day.
Torrent Power had yesterday reported a consolidated net profit of Rs 246.27 crore for the July-September quarter.

It had posted a net profit of Rs 23.73 crore in the same period of the last financial year.

The financial performance between the two 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 3,106.27 crore.
Torrent Power had posted total income of Rs 2,701.04 crore a year ago.