Power trading company PTC India on Wednesday said it has appointed Rajib Kumar Mishra as the Chairman and Managing Director (CMD).
Mishra was holding the additional charge of CMD of the company. He joined the PTC Board in February 2015 as Director (Marketing and Business Development). He has been appointed CMD with effect from March 29, the company said in a statement.
Prior to this, Mishra worked as Executive Director of PTC since October 2011 and was responsible for Operations, Business Development, Retail & Advisory Services.
He has 38 years of professional experience and has served at state-run NTPC and Power Grid in various capacities. He has authored four published books and twenty-four technical and management papers.
Building a portfolio
During the October-December quarter of FY23, the company posted a consolidated Profit After Tax (PAT) of ₹104.48 crore compared to ₹62.91 crore in Q3 FY22, an annual increase of 66 per cent.
PTC India’s traded volume during Q3 FY23 stood at 15,530 million units (MUs) compared to 19,483 MUs in Q3FY22. The decline is primarily due to decrease of 3.72 BUs in low-margin power exchanges traded volumes.
As a part of its long-term strategy to position itself as a technology-enabled solutions provider in the electricity value chain, PTC is building a portfolio of forecasting tools across tenors to forecast demand and prices in the electricity markets.
Recently, the company signed an agreement with N-Side, Belgium to work on developing a predictive solution for the Indian power markets.
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