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Torrent Power slips despite reporting 19% rise in Q3 net profit

06 Feb 2019 Evaluate

Torrent Power is currently trading at Rs. 246.25, down by 0.85 points or 0.34% from its previous closing of Rs. 247.10 on the BSE.

The scrip opened at Rs. 245.80 and has touched a high and low of Rs. 252.10 and Rs. 238.15 respectively. So far 99812 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 283.00 on 27-Feb-2018 and a 52 week low of Rs. 212.10 on 01-Oct-2018.

Last one week high and low of the scrip stood at Rs. 252.40 and Rs. 237.95 respectively. The current market cap of the company is Rs. 11794.34 crore.

The promoters holding in the company stood at 53.57%, while Institutions and Non-Institutions held 25.39% and 21.05% respectively.

Torrent Power has reported a rise of 18.95% in its net profit at Rs 239.36 crore for the quarter ended December 31, 2018 as compared to Rs 201.23 crore for the same quarter in the previous year. Total income of the company increased by 18.39% at Rs 3,289.61 crore for Q3FY19 as compared Rs 2,778.60 crore for the corresponding quarter previous year.

Torrent Power is an integrated utility engaged in the business of power generation, transmission and distribution with operations in the states of Gujarat, Maharashtra and Uttar Pradesh.

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