Torrent Power on Monday reported Rs 483.93 crore consolidated net profit in the March 2023 quarter, mainly on the back of higher revenues. The company had reported a consolidated net loss of Rs 487.37 crore in the quarter ended March 2022, a BSE filing showed. Its total income rose to 6,133.70 crore in the quarter from Rs 3,840.59 crore in the year-ago period. The consolidated net profit in the fiscal 2022-23 rose to Rs 2,164.67 crore from Rs 458.70 crore in the previous fiscal. Its total income in the fiscal increased to Rs 26,075.97 crore against Rs 14,492.65 crore in 2021-22.
The board has recommended a final dividend of Rs 4 per equity share for 2022-23. This final dividend along with an interim dividend of Rs 22.00 per equity share works out to a total dividend of Rs 26.00 per equity share (including Rs 13.00 per equity share as a special dividend) for the 2022-23. The final dividend, if declared by the members at the ensuing AGM will be paid to the members, subject to deduction of tax at source on or before September 8, 2023. The board also approved a proposal to issue non-convertible debentures worth up to Rs 3,000 crore in one or more tranches by way of private placement, subject to the approval of the members in the ensuing annual general meeting (AGM).
