Share price of Torrent Power Limited edged higher by more than four per cent on Friday, May 21, a day after the company announced its January-March quarter results for the financial year 2020-21. On Friday, Torrent Power opened on the BSE at Rs 445, swinging to an intra day high of Rs 465.40 and an intra day low of Rs 426.10, in the trading session so far. According to a regulatory filing by the company to the stock exchanges, Torrent Power reported a net profit of Rs 398.1 crore in the March quarter on a consolidated basis. (Also Read: Torrent Power Bags Deal To Set Up Solar Power Plant )
According to the statement, Torrent Power reported a loss of Rs 273.94 crore in the corresponding quarter of the previous fiscal 2019-20. Meanwhile, in the fourth quarter of the financial year 2020-21, the company’s revenues rose to Rs 3,084.13 crore, compared to Rs 2,983.5 crore in the year-ago period. The company’s total comprehensive income or TCI grew by 13 per cent to Rs 1,299.98 crore for the fiscal year 2020-21.
During the financial year 20202-1, the company emerged as the highest bidder for the acquisition of a 51 per cent stake in the power distribution company in Dadra & Nagar Haveli as well as Daman & Diu.
On the NSE, Torrent Power opened at Rs 444, registering an intra day high of Rs 465.90 and an intra day low of Rs 426.10, in the session so far. It was last trading 4.34 per cent higher at Rs 449.45 on the NSE.
Shares of Torrent Power were last trading 4.51 per cent higher at Rs 450.25 on the BSE.