Kalpataru Power: Kalpataru Power rises 4% on two-fold rise in Q3 results

NEW DELHI: Shares of Transmission climbed 4 per cent in Monday’s trade after the company posted more than two-fold jump in consolidated net profit to Rs 308 crore for the December quarter, and announced an interim dividend at the rate of Rs 8.5 per share.

The stock also gained as the board of directors decided to withdraw a proposal to construct a corporate office near its existing office in Mumbai .

The stock rose 4.31 per cent to hit a high of Rs 379.90 on BSE.

The company said its total income rose to Rs 3,520 crore in the quarter from Rs 3,172 crore in the same period a year ago.

The company has fixed February 20 as a record date for the aforesaid purpose. The dividend so declared on equity shares, will be paid on or before March 12.

About the impact of pandemic, it said, “The company has considered the possible effects that may result from Covid-19 in the preparation of the financial results including the recoverability of carrying amounts of assets.

“In developing the assumptions relating to the possible future uncertainties In the global economic conditions because of Covid-19, the management has, at the date of approval of these financial results, expected that the carrying amount of these assets will be recovered.”