Shares of Torrent Power rose in early trade today after the firm logged a 86% YoY growth in consolidated profit for the quarter ended December 2022. Profit rose to Rs 684.60 crore in Q3 against Rs 368.08 crore in the corresponding quarter of last fiscal.
Torrent Power shares rose up to 9.21 per cent to Rs 499 against the previous close of Rs 456.90 on BSE. Earlier, the stock opened with a gain of 6.16% at Rs 485.05 on BSE.
Torrent Power shares are trading higher than the 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages. The stock has gained 2% in a year.
Total 0.43 lakh shares of the firm changed hands amounting to a turnover of Rs 2.11 crore on BSE. The market cap of the firm rose to Rs 23,737 crore on BSE.
The stock hit a 52-week high of Rs 609.90 on August 22, 2022 and a 52-week low of Rs 416 on May 19, 2022.
Revenue rose 71% to Rs 6,442.8 crore against Rs 3,767.4 crore in the year ago period.
EBITDA rose 53 percent to Rs 1,527 crore in the December quarter of this fiscal over Rs 1000 crore in the year ago period.
The board of the firm also approved an interim dividend of Rs 22 per equity share (including Rs 13 per equity share as a special dividend).
Torrent Power is present across the entire power value chain – generation, transmission, and distribution. The company has an aggregate installed generation capacity of 4,160 MW comprising 2,730 MW of gas-based capacity, 1,068 MW of renewable capacity, and 362 MW of coal-based capacity.
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