Torrent Power Posts 80% Fall In Q1 Profit
New Delhi: Torrent Power on Tuesday reported a 79.55 per cent drop in consolidated net profit at Rs 45.62 crore for the fiscal first quarter that ended on June 30.
"The group has posted a net profit after taxes, non-controlling interest and share of profit of associates of Rs 45.62 crore for the quarter ended June 30, 2016 as compared to Rs 223.16 crore for the quarter ended June 30, 2015," Torrent Power said in a filing to the BSE.
According to the statement, total income decreased from Rs 3,139.03 crore to Rs 2,631.71 crore in the quarter ended June 30.
The company said the financial results were adopted through a resolution in the annual general meeting of the company held on Tuesday.
The shareholders also approved the proposal for confirmation of interim dividend of Rs 4.5 per equity share of Rs 10 each as final dividend of the company for the fiscal year ended March 31.
