Comments
PTC India Ltd, a power trading solutions provider, has posted 47 growth in net profit for the first quarter of 2014-15 fiscal on the back high growth in the volume of power traded, both for long-term and short-term trades.
Net profit during the quarter stood at Rs 43.74 crore against Rs 29.67 crore in the same quarter last year.
The company’s total revenue increased 33 per cent to Rs 3,689.54 crore from Rs 2,770.46 crore in the same quarter last year.
Traded volume
Long-term trades during the quarter increased to 3,425 million units, a growth of 17 per cent over 2,931 million units in the same quarter last year. Overall traded volumes increased 22 per cent to 10,309 million units from 8,418 million units.
“The company remains focussed on increasing presence in multiple business segments like long-term, medium-term and short-term sales to utilities as well as retail segment. The company has already tied up more than 11,500 MW of generation capacity on a long-term basis and is converting into power sale agreements,” PTC India said in a statement.
The commencement of power supply of 200 MW each to Haryana and Uttar Pradesh on a long-term basis from Jaypee’s Karcham Wantoo hydroelectric project has helped the company’s long-term business further, the statement added.
At 1.31 p.m. on Tuesday, PTC’s shares were trading 5.95 per cent higher at Rs 84.30 on the BSE.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.