PTC India Q2 PAT down 11% to Rs 35 cr

Hit by rising interest expenses, PTC India saw its quarterly profit after tax (PAT) slide by 11% to Rs 35.57 crore.

The power trading solutions provider witnessed the highest traded volume -- 8,655 million units -- for any quarter in three months ended September 2011. The volume is 12% higher than 7,730 million units recorded in the year-ago period.

In a statement released today, PTC India said higher interest expenses pulled down its profit after tax to Rs 35.57 crore in the latest quarter, from Rs 39.95 crore in the same period a year ago.

Indicating better performance, the company's operating profit in the September quarter of this fiscal jumped over 17% to Rs 43.25 crore.

"The total PPAs [Power Purchase Agreements] signed by the company as on September 30, 2011 are 15,370 MW [includes cross border trade]," the statement said.

On a half-yearly basis, PTC India reported over 19% increase in PAT at Rs 80.80 crore. For the six months ended September 2010, the entity had a profit after tax of Rs 67.75 crore.