PTC India Q2 results: Net profit rises 46% to Rs 202 cr on higher revenues

The company also received a dividend income of Rs 41.75 crore from its other subsidiary PTC India Financial Services (PFS)

Illustration by Ajay Mohanty

Illustration by Ajay Mohanty

Press Trust of India New Delhi

Listen to This Article

Power trading solution provider PTC India on Friday posted over 46 per cent jump in its consolidated net profit to Rs 202.31 crore for the September 2023 quarter, mainly on the back of higher revenues.
The company's consolidated net profit stood at Rs 138.23 crore in the year-ago period, according to a BSE filing.
The total income rose to Rs 5,224.85 crore in the quarter from Rs 4,901.84 crore a year ago.
"We have experienced a remarkable growth in profitability in the consolidated quarterly numbers, a 46 per cent increase, driven by growth in core margins, efficient working capital management and improved contributions from our subsidiaries and associate company," PTC India Chairman and Managing Director Rajib K Mishra said in a statement.
He pointed out that the company's core margin witnessed an increase of 16 per cent during this period.
Overall -- the holding company, two subsidiaries and associate company Hindustan Power Exchange -- all have shown good growth during the quarter, he explained.
The company also received a dividend income of Rs 41.75 crore from its other subsidiary PTC India Financial Services (PFS).
Furthermore, Hindustan Power Exchange (HPX), backed by PTC, is making remarkable progress in its business operations, Mishra stated.
HPX is steadily growing its market presence and establishing itself as a trusted and effective platform in the power market, he added.
The EPS (earning per share) increased to Rs 6.31 in Q2 FY24 compared to Rs 4.05 in Q2 FY23.
The trading volumes were 21,326 MUs (million units) in Q2 FY24 against 21,021 MUs in Q2 FY23.
Its core margin stood at Rs 3.96 paisa per unit in Q2 FY24 compared to Rs 3.41 per unit in Q2 FY23, an increase of 16 per cent.

Also Read

PTC India consolidated net profit up 5.62% to Rs 143 cr in June quarter

CRISIL downgrades rating on PTC Fin Services' non-convertible debentures

PFS initiates process to select new CEO to put behind corporate lapses

PTC India plans to provide 24x7 power trading solutions: CMD Mishra

PTC to divest 100% equity in energy arm for Rs 2,021 cr enterprise value

Shriram Life Insurance posts profit after tax at Rs 31 cr in Sep quarter

Tata Chemicals posts 32% drop in Q2 profit on weak demand, prices

Eicher Motors Q2 net profit rises 55% to Rs 1,016 cr on robust sales

M&M Q2 results: Consolidated net profit down 15% to Rs 2,348 crore

Biosimilars growth pushes Biocon Q2 PAT rises 168% to Rs 126 crore

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Nov 10 2023 | 7:53 PM IST

Explore News