Torrent "Powers" up to new high

Torrent Power is a big gainer today, figuring amongst the top gainers on the BSE and going on to hit a new high at Rs.287.

The market is enthused with the Q2FY18 performance. On a 9% (YoY) rise in consolidated net revenue at Rs.2915 crore, the company managed to keep a very tight lid on its expenses and that helped boost the net profit by 130% to Rs.322 crore.

Operating profit rose 27% to Rs.838 crore while margins rose from 24.6% to 28.7%.

The good news – its consolidated net profit for H1FY18 at Rs.525 crore has already surpassed FY17 net profit of Rs.430 crore; clearly with two more quarters to go, this will be a bumper year for Torrent.