Companies

PTC India Q1 net up 10%

Debabrata Das New Delhi | Updated on January 23, 2018

Power trading solutions company, PTC India Ltd has reported a 10 per cent increase in its net profit for the first quarter of fiscal 2015-16 at ₹ 47.93 crore compared with ₹ 43.74 crore in the same quarter last year.

During the quarter, the company’s total income increased by 5 per cent to ₹ 71.77 crore from ₹ 68.11 crore in the same quarter last year.

The company’s traded volume during the quarter was 10,265 million units, slightly lower than 10,309 million units in the same quarter last year. It had an average margin (net of rebate, surcharge and tolling converted power purchase agreements) of 0.049 paisa per unit compared with 0.042 paisa per unit in the same quarter last year.

“The company reported flat volumes in the quarter primarily as a result of suppressed demand from the discoms. The company, however, continued to consolidate its long-term business with 3,838 million units being traded in the long-term trading business segment during the quarter which was a year-on-year growth of 12 per cent. This improved net margin realisations,” said Deepak Amitabh, Chairman and Managing Director of PTC India Ltd.

PTC India will remain focused on increasing its presence in multiple business segments like long-term, medium-term and short-term sales to utilities as well as to the non-utility (retail) segment, an official statement said.

“We have already tied-up more than 11,000 MW generation capacity on a long-term basis, and is actively converting this into power-sale agreements for medium and long-term. The company has already executed long term power sale agreement of more than 7,500 MW (including for cross border sales),” he added.

At 3 pm on Thursday, the company’s shares were trading 2.69 per cent lower at ₹ 70.60 on the BSE.

Published on August 06, 2015

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