PTC India net profit rises 1% at Rs 195 crore in September quarter

The company on Thursday posted a marginal rise in consolidated net profit

PTC India on Thursday posted a marginal rise of about one per cent in consolidated net profit at Rs 195.48 crore for September quarter 2021-22.

In the year-ago period, the company clocked a profit of Rs 193.64 crore, a BSE filing stated.

Total income stood at Rs 5,474.34 crore in the quarter under review as compared to Rs 6,011.39 crore in the same period last year.

The company's board in its meeting held on Thursday declared an interim dividend of Rs 2 per equity share having face value of Rs 10 each for financial year 2021-22.

The company has fixed record date of November 23, 2021 (closing hours) for ascertainment of shareholders entitled to receive the interim dividend.

Its power trade volume increased 6 per cent to 27,792 MUs (million units) in the quarter under review from 26,247MUs in the same period a year ago.

Overall, this quarter has been a mixed bag in terms of volume and margins. While volume grew by 6 per cent for the quarter, the company traded over 50 Billion Units for the half year ending Sep -2021. The growth has been driven by short term trades and the exchange traded segment," Rajib K Mishra, Director (M&BD) & CMD Incharge, PTC India said.

Hindustan Power Exchange Ltd, next generation power exchange (formerly known as Pranurja Solution Limited) has been granted licence by regulatory commission to operate as electricity exchange, Mishra informed.

The testing of trading platform has started and the exchange is expected to get operational in this financial year, he added.

During the quarter, "long-term including cross border volumes" faced some scheduling issues resulting in less than expected growth in traded volumes. The same is also evident in the financial numbers, he said.

"Our consultancy business continues to make deeper inroads and strengthen its presence in B2B solutions for customers like SEZs, Port Trusts, and other entities. PTC is committed to make continual investments in its people and processes to build capabilities and drive solutions. We are confident that these will drive our growth going forward," Mishra said.