PTC India slumps 9% on poor quarterly numbers

The net profit for the third quarter this fiscal plunged to Rs 7 crore as compared to Rs 91 crore profit the year-ago period

Shares of PTC India have slumped over 9% to Rs 85 on the BSE after the electricity trading firm’s net profit for the third quarter this fiscal plunged to Rs 7 crore due to one-time provision of Rs 33 crore as compared to  Rs 91 crore profit the year-ago period. 

Total income from operations increased by 5 per cent to Rs 2,823.24 crore as compared to Rs 2,751.47 crore in the corresponding period of the last financial year, PTC India said in a BSE filing. 

The stock opened at Rs 88, touched a low of Rs 84 on the BSE. A total of 612,760 shares changed hands on the BSE so far.