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Hot Pursuit
23-May-23
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Torrent Power board to mull raising upto Rs 3,000 cr via NCDs
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The company's board of directors will meet on 29 May 2023, to consider raising funds by issuing non-convertible debentures (NCDs) up to Rs 3,000 crore through private placement.
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The board will also consider the audited standalone and consolidated financial results for the quarter and year ended 31 March 2023, and recommend a final dividend, if any.
Torrent Power is engaged in the business of generation, transmission and distribution of electricity.
The company's consolidated net profit jumped 86% to Rs 684.60 crore in Q3 FY23 as against Rs 368.08 crore in Q3 FY22. Net sales surged 71% to Rs 6,442.79 crore in Q3 FY23 as against Rs 3,767.43 crore in corresponding quarter last year.
Shares of Torrent Power rose 0.36% to Rs 528.80 on Monday, 22 May 2023.
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