Torrent Power soars 9% post Q3 results; announces special dividend

In Q3FY23, Torrent Power's consolidated net profit grew 88 per cent year-on-year at Rs 695 crore on account of higher income.

Shares of Torrent Power surged 9 per cent to Rs 499 on the BSE in Wednesday’s intra-day trade after the company reported strong earnings for the December quarter (Q3FY23), with consolidated net profit up 88 per cent year-on-year (YoY) at Rs 695 crore on account of higher income. The integrated power utilities company had posted profit of Rs 369 crore in a year ago quarter (Q3FY21).

The board also approved an interim dividend of Rs 22 per equity share, including Rs 13 per equity share as a special dividend.The company fixed Wednesday, February 22, 2023 as record date for