Torrent Power Q4 net profit at Rs 484 crore; dividend of Rs 4 a share approved

AHMEDABAD: Torrent Group’s integrated power utility, Torrent Power Limited, on Monday posted Rs 483.93 crore of consolidated net profit in the fourth quarter of fiscal year 2022-23, backed by high revenues. The company had reported a net loss of Rs 487.37 crore in the corresponding quarter of 2021-22, according to the company’s stock exchange filing.

Torrent Power’s total income rose to Rs 6,133.7 crore during the quarter, up 60% as compared to Rs 3,840.59 crore in the corresponding quarter. During the entire fiscal year, the company’s net profit rose 371% from Rs 458.7 crore to Rs 2,164.6 crore. The company’s total income rose 79.9% during the fiscal year to Rs 26,075.97 crore.

The Board at Torrent Power Limited recommended a dividend of Rs 4 per equity share for 2022-23.