Torrent Power reports 80% fall in Q1 consolidated net profit

Torrent Power has reported results for first quarter ended June 30, 2016.

The company has reported a fall of 85.22% in its net profit at Rs 30.63 crore for the quarter ended June 30, 2016 as compared to Rs 207.22 crore for the same quarter in the previous year. The company’s total income decreased by 16.21% to Rs 2617.63  crore for the quarter under review from Rs 3124.15 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 79.56% fall in its net profit after taxes, non-controlling interest and share of profit of associates at Rs 45.62 crore for the quarter ended June 30, 2016 as compared to Rs 223.16 crore for the same quarter in the previous year .Total Income of the company decreased by 16.16% to Rs 2631.71 crore for the quarter under review from Rs 3139.03 crore for the same quarter ended June 30, 2015.