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Power trading solutions provider PTC India Ltd has reported a 5 per cent increase in net profit at Rs 101 crore for the July-September quarter of financial year 2015-16 against Rs 96 crore in the corresponding quarter in the last fiscal, the company said in a statement on Wednesday.
Total income from operations fell 16 per cent to Rs 3,521 crore for the second quarter of financial year 2015-16 against Rs 4,212 crore in the corresponding quarter of the last fiscal.
Deepak Amitabh, Chairman and Managing Director, PTC India Ltd, said: “The company has reported flat growth in power trading volumes due to an environment of low purchases intended from the state discoms. We have, however, continued to consolidate the market in the medium term, which has grown by almost 43 per cent during the quarter.”
He added that with the reopening of the medium-term market for power traders in a revised policy document, trading opportunities in the power trading market will increase in the near future.
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