Torrent Power said its consolidated net profit fell 44 percent to Rs 207.78 crore in the June quarter, mainly due to a one-time profit in the same period last fiscal year.
The company's consolidated net profit stood at 373.87 million rupees in the quarter ended June 30, 2020, it said in a BSE presentation.
Total revenue increased to Rs 3,135.23 crore in the quarter from Rs 3,041.72 crore in the same period a year ago.
'Total Comprehensive Income (TCI) for the quarter is lower by Rs 159 Crs compared to Q1 of the previous year. However, both quarters were affected by specific items.
'The current quarter has a one-time net charge of Rs 21 Crs and the comparative quarter last year had a one-time net gain of Rs 234 Crs. Adjusted for these, the TCI has increased from Rs 134 crore to Rs 230 crore, or 72 percent, โhe said.
In another presentation, he said that shareholders approved a proposal to issue non-convertible debentures based on a private placement of up to Rs 2 billion in one or more tranches.
At their annual general meeting on Friday, shareholders also approved the payment of an interim dividend of Rs 5.50 and a final dividend of Rs 5.50 per equity share for the financial year ending March 31, 2021.
Torrent Power, the Rs 12,173 crore integrated electricity company of the Rs 20,500 crore Torrent Group, is one of the largest companies in the country's electricity sector with a presence throughout the energy value chain: generation, transmission and distribution.
(PTI)
