Torrent Power’s consolidated net profit jumped by over 31% to Rs 489.33 crore on Tuesday compared to the previous year, mainly owing to more significant revenues from increased sales of power from gas-based facilities and a gain from the sale of non-current investments. Torrent Power reported a total net profit of Rs 374.13 crore for the quarter ending December 2023.
Total income increased to Rs 6,671.25 crore in the reporting quarter from Rs 6,419.65 crore in the same time last year. The board also authorized an interim dividend for 2024-25 of Rs 14 per equity share (or 140 percent) on 50,39,03,543 equity shares of Rs 10 each. The dividend’s record date is Wednesday, February 12, 2025. The corporation indicated that the primary reasons for the increased profit are an increase in contribution from gas-based power plants and a gain on the sale of non-current investments. Torrent Power, the Rs 27,183 crore integrated power utility of the Rs 41,000 crore Torrent Group, is one of the country’s major power businesses, with operations across the entire power value chain, including production, transmission, and distribution.