Research Icon - Torrent Power share price jumps 7% after robust Q3 profit, board declares dividend

Share price of Torrent Power jumped over 7 percent intraday on February 13 after the company reported its Q3 results.

Consolidated net profit rose over 76 percent to Rs 420.62 crore in December quarter 2019 versus Rs 238.19 crore in the year-ago period.

Total income was Rs 3,115.48 crore in the quarter as compared to Rs 3,306.83 crore in the same period of last fiscal.

The consolidated net profit during the April-December period this fiscal rose to Rs 1,452.82 crore from Rs 879.03 crore a year ago. Its profit in 2018-19 was Rs 903.83 crore.

The stock witnessed a spurt in volume by more than 3.21 times and was trading with volumes of 167,312 shares, compared to its five day average of 36,974 shares, an increase of 352.51 percent.

The stock price gained over 38 percent in the last 1 year and was quoting at Rs 326.40, up Rs 22.50, or 7.40 percent. It has touched an intraday high of Rs 329.75 and an intraday low of Rs 313.

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