PTC's Q1 Net up 13% to Rs 56.45 cr

Power Trading Corporation (PTC) India today reported 13 per cent growth in standalone net profit at Rs 56.45 crore for the quarter ended June 30, 2016.
The state-run firm had a net profit of Rs 49.75 crore in the year-ago period, it said in a statement.
The firm's revenues increased by 14 per cent to Rs 3,644.33 crore in April-June this fiscal from Rs 3198.91 crore in the same quarter in 2015-16.
Power volumes rose by 19 per cent to 12,221 million units (MUs) from 10,265 MUs during the quarter under review.
PTC India Chairman and Managing Director Deepak Amitabh said: "The company continues to witness healthy growth in the power trading volumes. The increase has been on the strength of our balanced portfolio developed over the years, with long term contracts showing growth along with the exchange traded volumes."

PTC has emerged as the successful bidder in various bids called by state utilities for short term power through MoP's DEEP online bidding portal, based upon its transparent practices and robust business model, he added.

"We have maintained our leadership position and would continue in our mission for the development of a vibrant power market in the country," Amitabh said.
During the quarter, PTC executed PPA with Bangladesh for supply of 40 MW power. The power supply under the contract will commence in October, 2016.
Bangladesh Power Development Board (BPDB) had extended the 250 MW PPA with PTC for further period of 6 months, it added.