New Delhi: Torrent Power on Wednesday reported over 88 per cent fall in its consolidated net profit at Rs 25.80 crore for the quarter ended March 2019.
The company’s consolidated net profit in the year-ago period stood at Rs 221.25 crore, it said in a statement. Torrent Power’s total income rose slightly to Rs 2,964.65 crore in the March quarter from Rs 2,909.12 crore a year ago.
The company’s consolidated net profit for 2018-19 also dipped to Rs 903.83 crore from Rs 952.12 crore in the previous fiscal.
However, its total income in 2018-19 increased to Rs 13,340.56 crore from Rs 11,775.64 crore in the previous fiscal. The company’s board also recommended a final dividend of Rs 5 per equity share of Rs 10 each.
The board also approved issuance of non-convertible debentures up to Rs 1,500 crore in one or more tranches by way of private placement, subject to approval of shareholders in the 15th Annual General Meeting, the company said.