Power player, Torrent Power Ltd on Tuesday registered a standalone net profit of Rs 215 crore for the quarter ended March 2018 as against Rs 135 crore recorded in the corresponding quarter a year ago, showing a growth of 59 per cent year-on-year. The company's total income from operations stood at Rs 2,798 crore for the quarter under review, as against Rs 2,421 crore in the same quarter a year ago.

For the financial year ended March 2018, the company posted a standalone net profit of Rs 922 crore on income of Rs 11,449 crore. The board of directors of Torrent Power recommended dividend of 50 per cent or Rs 5 per equity share at its meeting held on May 29, 2018.

Torrent Power shares gained over 4 per cent on the stock exchanges to trade at Rs 252.60 on Wednesday.

Consolidated net profit for the quarter ended March 2018 stood at Rs 221 crore as against Rs 136 crore in the corresponding quarter a year ago. Total consolidated income from operations stood at Rs 2,810 crore for the quarter as against Rs 2,433 crore in the same quarter last year.

For the financial year 2017-18, the company's consolidated net profit stood at Rs 952 crore on total income of Rs 11,512 crore. The company cited a reduction in finance cost on account of reduction in rate of interest on term loans, reduction in AT&C losses at the distribution franchisee business and an improved performance at the Ahmedabad and Surat distribution as the key reasons for variation in total comprehensive income for fiscal 2018.

It also stated that an improved performance at Ahmedabad and Surat distribution on account of sales growth, reduction in T&D loss and timely recovery of Fuel Price and Power Purchase Adjustment (FPPPA) charges read with the negative impact of discontinuance of the recovery of regulatory charge effective from June 10, 2017 added to the growth, the company stated.

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