Torrent Power net rises 83% to Rs 755 cr in Sept qtr
Torrent Power on Tuesday posted about 83 per cent jump in its consolidated net profit at Rs 755.61 crore in the quarter ended September 2019.
Its consolidated net profit was Rs 413.52 crore in the same quarter a year ago, a BSE filing said.
Total income rose to Rs 3,891.29 crore in the quarter from Rs 3,488.66 crore in the corresponding three months a year ago.
The company’s board at its meeting approved a scheme of arrangement for transfer of cable business undertaking to TCL Cables, a wholly owned subsidiary of the company, on a going concern basis by way of slump sale with effect from the appointed date of April 1, 2020, for a lump sum consideration of Rs 214.50 crore (to be adjusted for change in working capital).
