Electricity trading solutions provider PTC India Ltd reported a 56 per cent growth in its net profit for the second quarter of fiscal 2014-15 on the back of increased volumes of power traded on its platforms. The net profit for the company during the quarter stood at Rs 96 crore as against Rs 62 crore in the same quarter last year.
The company’s total revenues during the quarter was up 34 per cent to Rs 4,212 crore as against Rs 3,140 crore in the same quarter last year.
“During the period we strengthened our position in the long term and cross border power trades. With changes in the policy and regulatory environment, we persevere to prospect value accretive businesses for the group,” said Deepak Amitabh, Chairman and Managing Director, PTC India in a statement.
Operationally, the company’s long term trades increased 27 per cent to 6,031 million units as compared to 4,746 million units in the same quarter last year.
PTC India’s announced its results on a Sunday when the markets were closed. On Friday, the company’s shares closed 0.81 per cent higher on the BSE at Rs 93.10.