Torrent 'Powers' up!

Thanks to a 17% (YoY) rise in total consolidated income at Rs.2,909.12 crore, Torrent Power ended Q4Fy18 with a 62% jump in net profit at Rs.221 crore.

For the financial year 2017-18, the company's consolidated net profit stood at Rs 952 crore on total income of Rs 11,512 crore. This was on account of a reduction in finance cost on account of reduction in rate of interest on term loans, reduction in AT&C losses at the distribution franchisee business and an improved performance at the Ahmedabad and Surat distribution.

The company also stated that an improved performance at Ahmedabad and Surat distribution was on account of sales growth, reduction in T&D loss and timely recovery of Fuel Price and Power Purchase Adjustment (FPPPA) charges read with the negative impact of discontinuance of the recovery of regulatory charge effective from June 10, 2017.

The market has reacted positively to this news and the stock price rose 5% to Rs.254.40. Its 52-week high is at Rs.306.95 and low at Rs.171.50.