Torrent Power Q1 net up 22% at Rs 277 cr on back of higher revenues, total income rises to Rs 3,791 cr

New Delhi: Torrent Power on Monday posted about 22 percent rise in consolidated net profit at Rs 276.59 crore for June quarter compared with year-ago period, mainly on the back of higher revenues. [caption id=“attachment_2658508” align=“alignleft” width=“380”] Representational image. AP[/caption] The company’s consolidated net profit for June quarter last year was at Rs 227.32 crore, a BSE filing stated. According to the statement, the company’s total income in the quarter rose to Rs 3,790.61 crore from Rs 3,580.42 crore a year ago. Besides the financial results, the shareholders in annual general meeting held on Monday approved a proposal to raise up to Rs 1,500 crore through issuance of non-convertible debentures on private placement basis. The company had sought shareholders’ nod for issuance of NCDs by way of offer or invitation to raise up to Rs 1,500 crore on a private placement basis to qualified institutional buyers, banks other than scheduled commercial banks, companies, corporates, among others. Shareholders also approved a dividend of Rs 5 per equity share for 2018-19.