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PTC India Limited has reported a ₹ 51.34 crore net profit for the third quarter of financial year 2018-2019. This is 12.89 per cent lower than the ₹ 58.94 crore bottom line reported by the company in the corresponding quarter of the preceding financial year. Total Income for quarter ending December 2018 has been reported at ₹ 2935.23 crore. This stood at ₹ 2717.46 crore in the same quarter of the last financial year.
The company said that it has recognised a surcharge of ₹ 45.06 crore during the quarter under review. For the corresponding quarter ended December 31, 2017, surcharge stood at ₹ 29.34 crore. This amount has been recovered from sundry debtors on amounts overdue on sale of power which has been included in other operating revenue.
Correspondingly, a surcharge expense of ₹ 9.16 crore during the quarter ending December 31, 2018 has been recognised as paid/payable to Sundry Creditors under operating expenses. This stood at ₹ 2.05 crore during the corresponding quarter ending December 31, 2017.
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