This power company achieves remarkable 372 per cent growth in PAT!

Company achieves 80 per cent sales growth, announces dividend and sets sights on raising capital.

Torrent Power Ltd has reported its results for the fourth quarter and year ended March 31, 2023 on yesterday. In comparison to the same quarter last year, the company's net profit for the fourth quarter that ended on March 31, 2023, increased by 199.29 per cent to Rs 483.93 crore from net loss of Rs 487.37 crore on a consolidated basis. In Q4FY23, the company's total revenue climbed by 59.71 per cent to Rs 6133.70 crore from Rs 3840.59 crore in the same quarter the previous year.  

The company reported 371.91 per cent increase in net profit for the year ended March 31, 2023, reaching Rs 2164.67 crore from Rs 458.70 crore on a consolidated basis. When compared to the year ended March 31, 2022, the company's total revenue climbed by 79.92 per cent, reaching Rs 26,075.97 crore compared to Rs 14,492.65 crore for the year ended March 31, 2022.  

The board has recommended a final dividend of Rs 4 per equity share pending approval from shareholders at the upcoming AGM. Earlier in the current financial year, the company had paid an interim dividend of Rs 9 and a special dividend of Rs 13 per equity share. 

The company plans to seek approval from its members at the upcoming AGM to issue non-convertible debentures. The issuance will be conducted through private placement and may amount to a total of Rs 3,000 crore. The debentures may be issued in one or more tranches.   

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Yesterday the scrip closed at Rs 555.15. Today it opened at Rs 564.80 and currently it is trading at Rs 565, up by 1.77 per cent. The BSE group 'A' stock has a market cap of around Rs 27,000 crore. It has a 52-week high of Rs 609.90 and a 52-week low of Rs 430.30. 

Torrent Power Ltd is a leading integrated power utility company in India with presence across generation, transmission and distribution of power. It is a part of Torrent Group which has presence across pharmaceutical, power and city gas distribution business.