Power trading solution provider PTC India on Friday reported 13.23 per cent increase in net profit at ₹56.45 crore in the first quarter of fiscal 2016-17 as against ₹49.75 crore in the same quarter last year.
During the quarter, the company’s total revenues grew by 14 per cent to ₹3,644.33 crore as compared to ₹ 3,198.91 crore in the same quarter last year.
The total volume traded under long term contracts in this year increased by 21.49 per cent to 4663 MUs from 3838 MUs in last year.
Deepak Amitabh, Chairman & Managing Director, PTC India Ltd., said, “PTC has emerged as the successful bidder in various bids called by state utilities for short term power through MoP’s DEEP online bidding portal, based upon its transparent practices and robust business model”.
PTC has executed PPA with Bangladesh for supply of 40 MW power. The power supply under the aforementioned contract will commence in October 2016, the company added in a statement.
On Friday, the company’s shares clsoed 0.26 per cent higher on the BSE at ₹ 77.55.