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Last Updated : Aug 05, 2019 08:17 PM IST | Source: PTI

Torrent Power Q1 net profit up 22% at Rs 276.59 cr

Shareholders also approved a dividend of Rs 5 per equity share for 2018-19.

Torrent Power on August 5 posted about 22 percent rise in consolidated net profit at Rs 276.59 crore for June quarter compared with year-ago period, mainly on the back of higher revenues.

The company's consolidated net profit for June quarter last year was at Rs 227.32 crore, a BSE filing stated.

According to the statement, the company's total income in the quarter rose to Rs 3,790.61 crore from Rs 3,580.42 crore a year ago.

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Besides the financial results, the shareholders in annual general meeting approved a proposal to raise up to Rs 1,500 crore through issuance of non-convertible debentures on private placement basis.

The company had sought shareholders' nod for issuance of NCDs by way of offer or invitation to raise up to Rs 1,500 crore on a private placement basis to qualified institutional buyers, banks other than scheduled commercial banks, companies, corporates, among others.

Shareholders also approved a dividend of Rs 5 per equity share for 2018-19.

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First Published on Aug 5, 2019 07:55 pm
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