PTC India's net profit jumps 36% to Rs 136 crore in June quarter

Power trading solutions firm PTC India on Wednesday reported an over 36 per cent jump in consolidated net profit to Rs 136.17 crore for the June 2021 quarter.

The company's net profit had stood at Rs 100.06 crore in the June quarter of the financial year 2020-21, it said in a BSE filing.

However, the total income fell to Rs 4,959.99 crore during the quarter, from Rs 4,641.28 crore in the year-ago period.

Total expenses also reduced to Rs 4,777.10 crore, compared with Rs 4,499.51 crore a year ago.

In a separate statement, the company's Chairman and Managing Director Deepak Amitabh said the beginning of the quarter coincided with the onset of the second wave of COVID-19.

However, despite the challenging environment, the company ended the quarter with a strong performance, he added.

"During the quarter, we also witnessed a gradual shift in the generation pattern of hydro electric plants (HEPs) of Bhutan and Sikkim, after a prolonged winter impacted volumes from HEPs in J&K and Himachal Pradesh.

"PTC has continued to make significant progress in rendering innovative solutions to various market participants and consolidating its position with them.

"The consulting business continues to make deeper inroads to strengthen its presence in B2B (business-to-business) solutions for customer entities like SEZs (special economic zones), port trusts, and other areas," he said.