Torrent Power on Thursday posted a consolidated internet revenue of Rs 398.10 crore within the January-March quarter pushed by larger revenues.
The corporate had posted a consolidated internet lack of Rs 273.94 crore within the quarter ended on March 31, 2020, a BSE submitting stated.
Complete earnings of the corporate rose to Rs 3,116.54 crore within the quarter from Rs 3,020.84 crore in the identical interval 12 months in the past.
Consolidated internet revenue of the corporate rose to Rs 1,295.87
crore in 2020-21 from Rs 1,178.88 crore in 2019-20. Complete earnings in 2020-21 decreased to Rs 12,314.47 crore from Rs 13,818.22 crore in 2019-20.
Commenting on outcomes, the corporate’s chairman Samir Mehta stated, “Regardless of the affect of COVID 19 pandemic and vital stress within the energy sector, Torrent Power continued to ship trade main returns within the non-public sector on account of the corporate’s technique to pursue risk-adjusted worthwhile alternatives, sturdy execution capabilities and concentrate on operational excellence.
“With our sturdy stability sheet, the corporate will proceed to pursue worthwhile progress alternatives throughout your complete worth chain of the power sector.“
The board in its assembly on Thursday additionally really helpful a remaining dividend of Rs 5.50 per fairness share of Rs 10 every. The ultimate dividend, if declared by the members on the ensuing AGM will likely be paid to the members topic to deduction of tax at supply on or earlier than September 3, 2021.
This remaining dividend together with interim dividend of Rs 5.50 per fairness share works out to a complete dividend of Rs 11.00 per fairness share for 2020-21.
The board additionally accredited a proposal for issuance of non-convertible debentures as much as Rs 2,000 crore in a number of tranches by the use of non-public placement topic to approval of the Members within the ensuing Annual Normal Assembly (AGM) of the corporate.
The board accredited appointment of Usha Sangwan as an Further Director (Non-Govt Unbiased) on the Board from Could 21, 2021 until the graduation of the following AGM and can proceed for a interval of 5 consecutive years from Could 21, 2021 until Could 20, 2026 (each days inclusive), topic to approval of the Members of the corporate.
Usha Sangwan, 62, was the primary lady Managing Director of LIC of India, the most important life insurer on the planet by way of variety of clients.
She is a publish graduate in Economics, a publish graduate diploma holder in Human Useful resource Administration and Licentiate from Insurance coverage Institute of India.
Torrent Power has an mixture put in era capability of three,879 MW comprising 2,730 MW of gas-based capability, 787 MW of renewable capability and 362 MW of coal-based capability.
Photo voltaic initiatives of 700 MW are below improvement, of which LOAs have been obtained for initiatives of 400 MW.
The Firm distributes almost 14.5 billion items to over 3.71 million clients within the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat; Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.
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