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Shares of Torrent Power Ltd were down as much as 6 per cent at Rs 231.05 - the biggest daily per cent loss since September 2018.
The power generator's March-quarter profit fells ~88 per cent to Rs 26.76 crore ($3.81 million), hurt by higher tax expenses.
The company's forward PE of 11.07 is higher versus the sector average of 9.63.
In comparison, rival Power Grid Corp has a forward PE of 9.65, while Tata Power Company Ltd's forward PE is 9.81.
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