Torrent Power posts 12 percent jump in consolidated net profit at Rs 227.32 crore
Torrent Power today posted about 12 percent jump in its consolidated net profit at Rs 227.32 crore in the quarter ended June mainly on the back of higher revenues.
The consolidated financial results include the results of the company and five subsidiaries: Torrent Power Grid Ltd, Torrent Pipavav Generation Ltd, Torrent Solargen Ltd, Jodhpur Wind Farms Private Ltd and Latur Renewables Private Ltd, it said.
The application of lnd AS 115 has impacted the company's policy with respect to revenue recognition of licensed electricity distribution business. The company has applied the Modified Retrospective Approach for transition adjustments.
The shareholder also approved enhancement of borrowing limits up to Rs 20,000 crore.
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