look news india
For the financial year 2023-24, Torrent Power has invested Rs. 1,896 crores. The profit after tax is more than Rs. 2,165 crores less than PAT. In the year 2022-23, the company had to earn Rs. 672 crores. The main reason behind this decline in PAT is the huge profit of Rs 672 crore from the sale of LNG. If adjusted for profit, the profit in 2023-24 is Rs. 403 crores, showing a growth of 27 percent. Torrent Power on Wednesday reported a 7.6 percent decline in net profit for the fourth quarter of the financial year 2023-24 ending in March. In the fourth quarter results announced by the company, the company has made a profit of Rs 447 crore. The company's profit in the same period of FY 2022-23 was Rs 484 crore. The total expenditure of the company increased to Rs 6,008.14 crore in the fourth quarter. Which was Rs 5,465.46 crore in the same quarter last year. Net profit for the full financial year fell from Rs 2,165 crore to Rs 1,896 crore. The company's board decided to pay Rs. 4 dividend has been approved. Earlier the company had paid Rs. 12 interim dividend was paid. Company Chairman Sameer Mehta said that the demand for electricity in India has been very high last year and it is likely that this demand will remain high in the future as well. It has been a good year for Torrent Power and the areas in which the company operates have seen positive developments and growth initiatives.
The company has promoted Jinal Mehta as Vice Chairman (VC) and Managing Director (MD) of the company with effect from June 1, 2024, Torrent Power said in a filing to the BSE.