Torrent Power fell 11.95% to Rs 200 at 14:10 IST on BSE after consolidated net profit fell 84.71% to Rs 27.76 crore on 3.90% rise in net sales to Rs 2440.02 crore in Q4 March 2016 over Q4 March 2015.
The result was announced after market hours yesterday, 18 May 2016.Meanwhile, the BSE Sensex was down 150.36 points, or 0.58%, to 25,554.25.
On BSE, so far 12.42 lakh shares were traded in the counter, compared with an average volume of 1.61 lakh shares in the past one quarter. The stock hit a high of Rs 208.15 and a low of Rs 187.20 so far during the day. The stock hit a 52-week high of Rs 252.50 on 11 March 2016. The stock hit a 52-week low of Rs 136.55 on 29 June 2015. The stock had outperformed the market over the past one month till 18 May 2016, sliding 4.76% compared with 0.43% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 4.89% as against Sensex's 8.69% rise.
The large-cap company has an equity capital of Rs 480.62 crore. Face value per share is Rs 10.
On a consolidated basis, Torrent Power's net profit rose 140.65% to Rs 865.60 crore on 12.72% rise in net sales to Rs 11257.54 crore in the year ended March 2016 over the year ended March 2015.
The Gujarat High Court of Gujarat sanctioned the composite scheme of amalgamation of Torrent Energy (TEL) and Torrent Cables (TCL) with Torrent Power (TPL) with effect from 1 April 2014. Hence, the figures for the corresponding periods are not comparable with the figures of the current periods.
Torrent Power is a well-known brand in the Indian power sector with an all-round experience in generation, transmission and distribution of power.
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