 "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.
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.
 "This Week in Explainers: Will recession in UK, Japan hit daily living?")
 "FirstUp: Nitish Kumar to seek trust vote, RLD to formally join NDA… The big stories today")
 "This Week in Explainers: What Uttarakhand’s Uniform Civil Code means for live-in couples")
 "Ram mandir consecration: Did Nihang Sikhs start the temple movement over a century back?")
 "This Week in Explainers: Will recession in UK, Japan hit daily living?")
 "FirstUp: Nitish Kumar to seek trust vote, RLD to formally join NDA… The big stories today")
 "This Week in Explainers: What Uttarakhand’s Uniform Civil Code means for live-in couples")
 "Ram mandir consecration: Did Nihang Sikhs start the temple movement over a century back?")