Torrent Power Q3 Profit Jumps 31% to Rs 489 cr

New Delhi, Feb 4 (PTI) Torrent Power on Tuesday posted a nearly 31 per cent rise in its consolidated net profit at Rs 489.33 crore compared to a year ago, mainly on the back of higher revenues due to increased sale of electricity from gas-based plants and gain from sale of non-current investments.

The company had a consolidated net profit of Rs 374.13 crore in the quarter ended December 2023, Torrent Power said in a statement.

Total income rose to Rs 6,671.25 crore in the reporting quarter from Rs 6,419.65 crore in the same period a year ago.

The board also approved an interim dividend for 2024-25 of Rs 14 per equity share (or at the rate of 140 per cent) on 50,39,03,543 equity shares of Rs 10 each.

The dividend will be remitted on or before March 06, 2025 to equity shareholders of the Company.

The record date for the dividend is Wednesday, February 12, 2025.

The company stated that the major reasons for higher profit is increase in contribution from gas-based power plants and gain on sale of non-current investments.

Torrent Power, the Rs 27,183 crore integrated power utility of the Rs 41,000 crore Torrent Group, is one of the largest companies in the country's power sector with presence across the entire power value chain– generation, transmission and distribution.