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.
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.Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.