PTC's net down 17%

CORPORATE SCORECARD

PTC India, the largest power trading company in the country, saw a 17 per cent decline in its net profit for the fourth quarter (January to March 2007) to Rs 5.80 crore from Rs 6.99 crore of the corresponding quarter in 2006 due to the cap on trading margins and declining volumes.

The company's income from operations also decreased by 20 per cent at Rs 602.48 crore from Rs 754.68 crore over the corresponding quarter on the back of an over 30 per cent decline in volumes, down to 1,445 million units (MUs) as compared to 2,168 MUs during the corresponding quarter of the previous year.

On a yearly basis, the company recorded an income from operations of Rs 3766.66 crore for 2007 as against Rs 3108.55 crore reported in 2006,, higher by 21 per cent. Net profit for the financial year 2007 was at Rs 35.09 crore, down 14 per cent from Rs 40.63 crore of the previous year.

T N Thakur, chairman and managing director of the company however said that "it has been a satisfying year...In a very dynamic external environment, which has also seen some substantive questions of law relating to trading of electricity being settled".