The Hindu Business Line : PTC net profit up; to pay 10%

New Delhi, May 4 Power company PTC India Ltd has reported over three-fold increase in profit after tax to Rs 19.22 crore for the quarter ended March 31, 2008 compared with Rs 5.8 crore in the same period a year ago.

The board has recommended dividend of 10 per cent. The total income of the company during the quarter under review dipped 6.52 per cent to Rs 565.95 crore (Rs 605.40 crore).

Mr T.N. Thakur, Chairman and Managing Director, PTC India, said, “Initiatives taken by us in the past two years towards building long-term sustainability of PTC’s business model have started showing tangible results. PTC’s present business mix, therefore, is less skewed towards short-term market operations, and we are moving closer to our aspirational business portfolio.”

PTC’s income for 2007-08 stood at Rs 3,949.02 crore, registering a growth of 4.31 per cent over the last fiscal and the PAT increased by 39 per cent to Rs 48.70 crore (Rs 35.09 crore).