PTC India profit rises 66% to ₹104 cr in December quarter
1 min read . Updated: 14 Feb 2023, 04:36 PM IST
PremiumPTC India’s total income declined to ₹3,146.91 crore in the quarter from ₹3,338.40 crore in the same period a year ago.
New Delhi: Power trading solution provider PTC India has reported 66% rise in consolidated net profit at ₹104.48 crore for December quarter 2022-23.
In the year-ago period, the company recorded a profit of ₹62.91 crore, the company said in a BSE filing.
Total income declined to ₹3,146.91 crore in the quarter from ₹3,338.40 crore in the same period a year ago.
According to the company, the consolidated profit before tax (PBT) increased to ₹141.82 crore for Q3FY23 compared to ₹84.42 crore in Q3FY22.
“The core operating margin on standalone basis realized during Q3FY23 is ₹48.02 Crores against ₹48.81 Crores in Q3 FY 22," the company said.
“The traded volume was 15,530 MUs in Q3FY23 compared to 19,483 MUs in Q3FY22, the decline is primarily on account of decrease of around 3.72 BUs in low margin power exchanges traded volumes," it added.
Commenting on the results, Rajib K Mishra, CMD (Addl-charge), PTC India Ltd said, “We are pleased to declare the standalone and consolidated financial Results for Q3 & 9M FY23. During the quarter, the company’s business strategy focused more on the core margins than on the volumes. The per unit core margin realized during Q3FY23 improved to 3.09 paise/unit compared to 2.51 paise/unit in Q3FY22 indicating a marked improvement in operational efficiencies, tighter working capital management as well as a focused strategy to undertake value accretive transactions."
“The subsidiary companies continued to perform well during the quarter reiterating the overall strength and robustness of the business model of the PTC Group. The PTC sponsored exchange is also demonstrating traction in business volumes with a traded volume of 35-40 MUs / day in last couple of days," he added.
Shares of PTC India on the BSE closed at ₹89.00, down by ₹3.85 or 4.15% from its previous close.
