PTC India reports 7% rise in consolidated net profit at Rs 100 cr in Q1

Power trading solutions firm PTC India on Tuesday reported an over 7 per cent rise in consolidated net profit at Rs 100.06 crore for the June quarter, helped by reduced expenses.

The company's net profit stood at Rs 93.26 crore in the April-June period of 2019, it said in a BSE filing.

However, total income fell to Rs 4,641 crore during the quarter, from Rs 5,415 crore in the year-ago period.

Total expenses also reduced to Rs 4,499 crore, as compared to Rs 5,275 crore earlier.

In a separate statement, the company's CMD Deepak Amitabh said, "While the demand for traded electricity was impacted initially, the gradual restoration of economic activity has seen a revival of demand to levels comparable to the corresponding period last year."

"Positive results of structural initiatives taken by government of India in the wake of Covid-19 are now visible, and we remain cautiously optimistic," he added.