Torrent Power, engaged in generation, transmission and distribution of power, witnessed a sharp fall in share price on Friday after the company disclosed a substantial drop in consolidated net profit for the quarter ended December 2016. During the quarter, the profit of the company declined 70.30% to Rs 1,066.60 million from Rs 3,590.80 million in the same quarter last year.

Revenues for the quarter declined 23.26% to Rs 23,266.90 million, compared with Rs 30,320.50 million for the prior year period.

Shares of Torrent Power are trading at Rs 199.75, down Rs 8.35, or 4.01% at the Bombay Stock Exchange (BSE) on Friday at 9:51 a.m.

The scrip has touched an intra-day high of Rs 201 and low of Rs 193.85. The total volume of shares traded at the BSE is 160,293.

Total volume of shares traded on the bourses today was lower by 8.90% to 1,520,958 compared with 22-day average volume of 1,669,563.