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Torrent Power Q1 Profit Drops 80% To Rs 46 Crore

Torrent Power has reported a 79.55 per cent drop in consolidated net profit to Rs 45.62 crore for the first quarter ended June 30

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Torrent Power has reported a 79.55 per cent drop in consolidated net profit to Rs 45.62 crore for the first quarter ended June 30.

"The group has posted a net profit after taxes, non-controlling interest and share of profit of associates of Rs 45.62 crore for the quarter ended June 30, 2016 as compared to Rs 223.16 crore for the quarter ended June 30, 2015," Torrent Power said in a BSE filing.

According to the statement, total income has decreased from Rs 3,139.03 crore to Rs 2,631.71 crore in the quarter ended June 30.

The company said the financial results were adopted through a resolution in the annual general meeting of the company held today.

The shareholders also approved the proposal for confirmation of interim dividend of Rs 4.5 per equity share of Rs 10 each as final dividend of the company for the fiscal ended March 31.

(PTI)


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