Torrent Power shares soar over 9% post Q2

Shares of Torrent Power on Thursday surged over 9 percent, to touch one-year high level, after the firm reported consolidated net profit of Rs 246.27 crore for the quarter ended September 30. The stock climbed 8.97 percent to Rs 199.80 -- its 52- week high -- on BSE. At NSE, shares of the company surged 9.11 percent to touch its one-year high of Rs 199.90.

Torrent Power yesterday reported a consolidated net profit of Rs 246.27 crore for the quarter ended September 30. The company had posted a net profit of Rs 23.73 crore in the same period a year ago. The financial performance between the two corresponding period "are not comparable" as the company is in the process of amalgamation of Torrent Energy Limited (TEL) and Torrent Cables Limited (TCL) with Torrent Power Limited (TPL) which was approved Gujarat High Court in August.

The total income from operations of the company during the reported period was Rs 3,106.27 crore. Torrent Power had posted total income of Rs 2,701.04 crore a year ago.