PTC India net down 6pc at Rs 61.44cr in Apr-Jun quarter

PTC India standalone net profit dropped about 6 per cent to Rs 61.44 crore in the quarter ended on June 30, 2018, compared to the year-ago period.

The company's standalone net profit was Rs 65.35 crore in the quarter ended on June 30, 2017, a BSE filing said.

According to statement, total revenue increased by 14.21 per cent to Rs 3,387.05 crore in the first quarter from Rs 2,965.72 crore a year ago.

Its power trading volume has increased by 18.43 per cent to 16,796 MUs (million units) in the quarter from 14,182 MUs year ago.

During the quarter, it said that business mix of the company has tilted to the short term business. Short term has contributed around 60 per cent of the volume and balance has been contributed by long & medium term. The total margin has been little lower due to the same.

It has long-term power purchase agreement with renewable (wind) projects portfolio of 1050 MW. The supply is expected from next year onwards. This capacity is expected to contribute around 3 BUs (billion units) of trade volumes annually.

It said that 400 MW of long-term power was operationalised in this quarter. The effect of these contracts shall be visible in the coming quarters. The capacity is expected to contribute around 1.5 BUs to the total trading volume.

In the consulting business, the order book addition has been more than Rs 15 crores and total order book is now at Rs 80 crores, it added.