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Torrent Power jumps after consl Q3 PAT rises 77% YoY

Capital Market 

Torrent Power jumped 8.01% to Rs 328.25 after the power transmission company announced decent Q3 numbers after market hours yesterday, 12 February 2020.

The scrip traded in the range of Rs 313 and Rs 328.45 so far during the day.

Torrent Power's consolidated net profit jumped 77% to Rs 419.39 crore in Q3 December 2019 as compared to Rs 236.96 crore posted in Q3 December 2018. Net sales declined 5.4% to Rs 3079 crore in Q3 December 2019 over Q3 December 2018.

Profit before tax (PBT) for Q3 December 2019 stood at Rs 315.16 crore, rising by 24.2% from Rs 253.65 crore reported in Q3 December 2018. Tax expense rose 14.4% YoY to Rs 67.38 crore in Q3 December 2019 over Q3 December 2018.

Torrent Power reported an 11% rise in EBITDA to Rs 877 crore in Q3 December 2019 compared with Rs 790 crore recorded in Q3 December 2018.

Meanwhile, the company has approved interim dividend of Rs 11.60 per equity share, which includes a special dividend of Rs 5 per equity share with a record date of 20 February 2020.

Torrent Power is an integrated utility engaged in the business of power generation, transmission and distribution with operations in the states of Gujarat, Maharashtra and Uttar Pradesh. It is also engaged in the business of cables manufacturing with operations in the state of Gujarat.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 13 2020. 09:26 IST
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