Torrent Power Q4 results: Net loss of Rs 273 crores for FY20
Torrent Power Q4 results: It is an Indian-based company that provides services in electricity generation, transmission, and distribution. However, the company is one of the largest power producers in India located in Ahmedabad. The company current operations at Gujarat, Maharastra, and Uttar Pradesh.
Meanwhile, on Tuesday, May 19, the company reported its Q4 results for the Financial Year 2020. The company’s consolidated net loss reported at Rs 273.94 crores Year-on-Year in the quarter ended in March. The company also posted its standalone profit of Rs 24.80 crores in the same quarter last financial year.
Besides, the revenue of the company stood at Rs 3,024.84 crores ended in March. While the company also posted its revenue of Rs 2,964 crores in the same quarter last year. The company also posted its consolidated revenue increased by 15.1% YoY to Rs 23,723 crores.
In the financial year 2019-20, the company’s consolidated net profit of Rs 1,178.88 crores ended in March. While the company also posted its consolidated net profit of Rs 903.83 crores in the previous fiscal year 2018-19. The revenue of the company reported at Rs 13,818.22 crores as against Rs 13,340.56 crores in the financial year 2018-19.
On the other side, the companies board of meetings held on May 18th, Monday. The company board members decided and approved its interim dividend of Rs 11.60 per share. However, the board also decided and approved its NCDs worth Rs 2,000 crores.
“We welcome the government’s decision for the power sector; in particular the decision to privatize distribution circles in Union territories. With our strong balance sheet, the company will continue to pursue profitable growth opportunities across the entire value chain of the power sector,” the company’s chairman Samir Mehta said.
On Tuesday, May 19, the shares of Torrent Power Ltd reported a bullish trend in the stock market. The company gained 7.65 points with a 2.53% increase and reached 304.15 INR. While in BSE, the company gained 7.00 points with a 2.36% increase and reached 304.00 INR.
Stock Market on May 19:
On Tuesday, both Sensex and Nifty reported a bullish trend in the stock market after bearish reports in the last three sessions. The Sensex is trading above 30,200 levels, and Nifty is trading above 8,850 levels in the stock market. The Sensex gained 178.64 points with a 0.59% increase and reached a 30,207.62 level. While Nifty gained 63.65 points with a 0.72% increase and reached 8,886.90 level.
On the other side, the number of coronavirus cases in India reached 1,01,139 as of Tuesday, May 19, and deaths reached 3,163.
In the border market, the S&P BSE Smallcap index reported a bullish trend in the stock market on Tuesday. It gained 0.34 points with a 0.0030% increase and reached a 10,376.52 level. The S&P BSE Midcap index gained 73.88 points with a 0.67% increase and reached an 11,129.05 level. While Nifty Bank lost 25.95 with a 0.15% decrease and reached a 17,504.70 level.
Top Gainers on May 19: Bharti Airtel, ONGC, Bharti Infratel, Grasim, and Adani Ports are the top gainers in today’s stock market
Top Losers on May 19: UPL, Vedanta, HUL, Indusind Bank, and Cipla are the top losers in today’s stock market.