PTC Q1 net up 77% at Rs 33 cr

PTC India Ltd, the country’s largest power trading firm, has posted a 76.8 per cent rise in net profit for the quarter ended June 2009 owing to increased trading volume and higher treasury income.

The company has posted a net profit of Rs 33.3 crore for the three months ended June 2009, as compared to Rs 18.8 crore posted in the corresponding quarter last year.

“The higher profit is mainly attributed to increased trading volumes which have gone up by 60 per cent in this quarter. Also, our treasury income has increased by a similar per centage,” said Tantra Narayan Thakur, chairman and managing director of the company.

The company’s treasury income which includes income from market instruments like mutual funds in which it had invested earlier increased to 27.1 crore in the quarter from 16.9 crore in the corresponding period last year.

Total income of the company in the quarter has also increased by 96.5 per cent at Rs 2,399.6 crore as compared to Rs 1,220.6 crore posted in the corresponding quarter last year.
PTC India’s share price at the Bombay Stock Exchange today closed up 0.45 per cent at Rs 88.7 as compared to the previous day’s close.