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Torrent Power on Monday posted about 22 per cent rise in consolidated net profit at ₹276.59 crore for June quarter ended this year compared to ₹227.32 crore shown during the corresponding quarter last year, mainly on the back of higher revenues.
The company’s total income in the quarter rose to ₹3,790.61 crore from ₹3,580.42 crore a year ago.
The shareholders in the annual general meeting held on Monday approved a proposal to raise up to ₹1,500 crore through issuance of non-convertible debentures on private placement basis.
The company had sought shareholders’ nod for issuance of NCDs by way of offer or invitation to raise up to ₹1,500 crore on a private placement basis to qualified institutional buyers, banks other than scheduled commercial banks and companies.
The company’s shareholders also approved a dividend of ₹5 per equity share for 2018-19.
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