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Torrent Power incorporated the wholly owned subsidiary with a share capital of Rs 1 lakh. The firm has incorporated with an object to carry on the business of generation, transmission, distribution, purchase, procurement, sale, trading, import, export or otherwise deal in all forms of electrical power and energy including non-conventional and renewable sources of energy.
TU10 is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on April 21, 2023 and is yet commence its business operations.
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 compared with 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.
The scrip rose 0.55% to settle at Rs 540.70 on Friday, 21 April 2023.
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