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Last Updated : Feb 13, 2020 10:40 AM IST | Source: Moneycontrol.com

Torrent Power share price jumps 7% after robust Q3 profit, board declares dividend

The stock witnessed spurt in volume by more than 3.21 times and was trading with volumes of 167,312 shares, compared to its five day average of 36,974 shares, an increase of 352.51 percent.

 
 
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Share price of Torrent Power jumped over 7 percent intraday on February 13 after the company reported its Q3 results.

Consolidated net profit rose over 76 percent to Rs 420.62 crore in December quarter 2019 versus Rs 238.19 crore in the year-ago period.

Total income was Rs 3,115.48 crore in the quarter as compared to Rs 3,306.83 crore in the same period of last fiscal.

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The consolidated net profit during the April-December period this fiscal rose to Rs 1,452.82 crore from Rs 879.03 crore a year ago. Its profit in 2018-19 was Rs 903.83 crore.

The company's board at its meeting held on Wednesday approved an interim dividend of Rs 11.60 per equity share on 48,06,16,784 equity shares of Rs 10 each for 2019-20

The said dividend will be remitted on or after February 24, 2020, to the equity shareholders of the company, whose names appear on the Register of Members of the Company and Register of Beneficial Owners maintained by the Depositories as on the Record Date of February 20, 2020, fixed for the purpose, the company said in a filing to the exchanges.

Torrent Power appointment Sunaina Tamar as Additional Director, (non-executive and non-independent category) to the Board of the Company with effect from February 13, 2020, until the next Annual General Meeting of the Company.

The stock witnessed a spurt in volume by more than 3.21 times and was trading with volumes of 167,312 shares, compared to its five day average of 36,974 shares, an increase of 352.51 percent.

The stock price gained over 38 percent in the last 1 year and was quoting at Rs 326.40, up Rs 22.50, or 7.40 percent. It has touched an intraday high of Rs 329.75 and an intraday low of Rs 313.

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First Published on Feb 13, 2020 10:40 am
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