Financial Daily from THE HINDU group of publications
Saturday, Jan 28, 2006
Financial Daily from THE HINDU group of publications Saturday, Jan 28, 2006 |
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Corporate Results
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Power PTC Q3 net jumps 91 pc to Rs 12.8 crore Our Bureau
New Delhi , Jan. 27 PTC India Ltd, the largest power trading utility in the country, has reported a 91 per cent jump in net profit at Rs 12.79 crore during the third quarter of the current fiscal. Income from operations was up 75 per cent at Rs 1,054.59 crore, a PTC release said. During the first nine months of the fiscal, the company's net profit was up 66 per cent at Rs 33.6 crore. Income from operations stood at Rs 2,353.87 crore, up 39 per cent over the same period last year. During the period, the company signed power purchase agreements for the 300-MW second phase of the LANCO Amarkantak thermal power project. The company is also focussing on its new ventures, namely the fuel intermediation and advisory businesses, the release said. "The numbers for the present quarter reflect the importance of having sound knowledge and skill based business models in sustaining our leadership position in the market for short-term power. In a highly volatile market, we have maintained our dominant position and provided stability to our customers short-term power planning needs," Mr T.N. Thakur, Chairman and Managing Director, PTC India, said. The company's stock, which opened on the BSE at Rs 65.15 per share closed lower at Rs 61.8 on Friday. The 52-week high for the stock stood at Rs 68 per share while the 52-week low was at Rs 38.
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