PTC India posts 4% increase in net profit at Rs 49.77 cr for March qtr

PTC India on Thursday posted a nearly 4 per cent increase in consolidated net profit at Rs 49.77 crore for the March quarter, helped by higher revenues.


PTC India | Indian companies

PTC India on Thursday posted a nearly 4 per cent increase in consolidated net profit at Rs 49.77 crore for the March quarter, helped by higher revenues.

Consolidated net profit of the company stood at Rs 47.96 crore in the quarter ended March 31, 2020, it said in a BSE filing.

Total income rose to Rs 3,925.99 crore from Rs 3,638.50 crore in the same period a year ago.

For the full fiscal 2020-21, the consolidated net profit of the company jumped to Rs 457.62 crore from Rs 406.06 crore in 2019-20.

Total income increased to Rs 18,373.66 crore in the fiscal as against Rs 18,123.57 crore in FY20.

The board in its meeting held on Thursday recommended a final dividend at the rate of 55 per cent, that is Rs 5.50 per share to the shareholders.

PTC India is in the business of power and investment. Revenue from operations of the group includes sale of electricity and interest income from loan financing/ debentures.

About impact of the pandemic, it said “the Parent Company expects that the carrying amount of its assets will not deteriorate, and will be recoverable in full. However, the assessment of the pandemic’s impact is a continuing process, given the uncertainties associated with its nature, occurrences and duration.”

PTC India Ltd Chairman and Managing Director Deepak Amitabh said, “The year 2020-21 was another year of strong performance for PTC, with our businesses generating record revenue, as well as consolidating our position in each of the segments.”

“We continue to make significant progress in rendering innovative solutions to various market participants, thereby further strengthening our engagement and positioning with various parts of the value chain.

“PTC is committed towards continual investments in its people and systems to build capabilities and drive solutions. I am confident that these investments will drive our future prospects and position to grow and prosper going forward,” he added.

PTC India Ltd, a Government of India initiative, is the pioneer in starting a power market in the country. The company has maintained its leadership position in power trading since inception.

PTC has also been mandated by the government to trade electricity with Bhutan, Nepal and Bangladesh.

On a standalone basis, its power trade volumes increased by 36 per cent to 16.279 BUs (billion units) in the March quarter from 12.002 BUs in same period a year ago.

In 2020-21, the volumes increased by 21 per cent to 80.042 BUs from 66.332 BUs.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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