Shares of Torrent Power surged 9 per cent to Rs 499 on the BSE in Wednesday’s intra-day trade after the company reported strong earnings for the December quarter (Q3FY23), with consolidated net profit up 88 per cent year-on-year (YoY) at Rs 695 crore on account of higher income. The integrated power utilities company had posted profit of Rs 369 crore in a year ago quarter (Q3FY21).
The board also approved an interim dividend of Rs 22 per equity share, including Rs 13 per equity share as a special dividend.The company fixed Wednesday, February 22, 2023 as record date for the interim dividend purpose.
In Q3FY23, Torrent Power’s revenue from operations rose 71 per cent YoY to Rs 6,443 crore from Rs 3,767 crore in the year-ago period. Ebitda (earnings before interest, taxes,
