Page 2 - Ptc India

PTC India Q4 net profit dips 17.67% to Rs 129 cr on higher expenses

Power trading solution provider PTC India Ltd on Saturday posted a 17.67 per cent fall in its consolidated net profit at Rs 129.34 crore during the March quarter, dragged by higher expenses. Its net profit was Rs 157.11 crore during the January March quarter of FY22, the company said in a regulatory filing. The company's total income, however, rose to Rs 3,643.02 crore from Rs 3,107.04 crore in the year-ago quarter. Expenses too grew to Rs 3,471.95 crore as against Rs 2,890.57 crore a year ago.

Market regulator issues legal notices to PTC India Financial Services

The SEBI investigation followed allegations levelled by three independent directors of PTC India Financial Services in January 2022

PTC inks pact with Brookfield Renewables to purchase 100 MW solar power

Power trading solutions provider PTC India on Tuesday said it has signed an agreement with Brookfield Renewables for purchase of 100 MW solar power on a long term basis. Brookfield Renewables is developing a 400 MW solar power project in Bikaner solar park in Rajasthan. "PTC India has executed a Memorandum of Understanding (MoU) with Brookfield Renewables for purchase of 100 MW solar power on a long-term basis," PTC India said in a release. The agreement includes an option to increase the power capacity to 200 MW at the time of project commissioning based on mutual confirmation by the two parties. PTC India will market the power to various utilities and commercial and industrial consumers. Under this arrangement, PTC India will provide Brookfield Renewables with an assured tariff and payment security. "This structure, executed with Brookfield is the first of its kind in the Indian power market... We will scale this structure and replicate it in multiple transactions going forwar

PTC India inks agreement for 115 MW power supply from VS Lignite Power

Power trading solution provider PTC India has inked a long-term power purchase agreement with VS Lignite Power for 115 MW of electricity supply. PTC India executed a long-term power purchase agreement (PPA) for 115 MW with VS Lignite Power Pvt. Ltd, a company statement said. VS Lignite operates a 135-MW lignite-fired power plant in Bikaner district of Rajasthan. The power plant sources fuel from a captive lignite mine near the project. The company is presently selling power to various discoms (power distribution companies) through short- term power sale agreements. PTC plans to explore various opportunities to sell this power to state utilities under long-term, medium-term and short-term power sale arrangements. PTC has a portfolio of long-term PPAs with 10,000 MW power capacity consisting of coal-based, large hydro and renewable energy projects. This marks PTC's first long-term power agreement with a lignite-based power project. Rajib K Mishra, CMD, PTC India, said in the state

PTC India appoints 3 former IAS officers as independent directors

Power trading solutions provider PTC India has appointed three retired officers of the Indian Administrative Service (IAS) as independent directors of the company. The company has also appointed Mahendra Kumar Gupta as a nominee director of NHPC. In a statement, PTC India informed about the appointments of Rashmi Verma, Jayant Dasgupta and Narendra Kumar as independent directors of the company with effect from Thursday. The appointments are subject to the approval of the shareholders, it stated. Rajib K Mishra, Chairman & Managing Director, PTC India, said: "We are delighted to welcome the three new independent directors having credible experience and impeccable career record." Rashmi Verma, a former IAS officer from 1982 batch, has 36 years of experience in various sectors, including tourism and textiles. In over 37 years of experience, Dasgupta, a 1981-batch retired IAS officer, has served as chief adviser to Bihar State Planning Board and ambassador to the World Trade ...

Gautam Adani decides against bid for stake in power trader PTC India

A representative for the Adani Group said the company had not bid for PTC nor contemplated doing so

PTC India December-quarter consolidated net profit up 66% to Rs 104 crore

Power trading solution provider PTC India has posted 66 per cent rise in consolidated net profit at Rs 104.48 crore for December quarter 2022-23. In the year-ago period, the profit was Rs 62.91 crore, the company said in a BSE filing on Monday. Total income declined to Rs 3,146.91 crore in the quarter from Rs 3,338.40 crore in the same period a year ago.

Stocks to Watch: TCS, Paytm, PTC, Lodha, Heritage Foods, Electronics Mart

Stocks to Watch: TCS and other IT stocks in focus, as the Tata Group IT major will be reporting its Q3 earnings on Monday.

Gautam Adani among potential suitors for a stake in govt-backed PTC

NTPC, NHPC, Power Grid, and PFC looking to sell stakes of around 4% each

Stocks to Watch: Zomato, IRCTC, Maruti Suzuki, RIL, Birlasoft, M&M Fin, ZEE

Stocks to watch today: Maruti Suzuki India recorded a 16.5 per cent YoY decline in production volume for passenger vehicles in December 2022

PTC India shareholders approve final dividend of Rs 5.80 per equity share

Power trading solutions provider PTC India on Monday said its shareholders have approved a final dividend of Rs 5.80 per equity share for 2021-22. This final dividend is in addition to the interim dividend of Rs 2 per equity share, a company statement said. The shareholders during the annual general meeting (AGM) on December 30, 2022 approved the final dividend in addition to the interim dividend, making it the highest-ever dividend declared by the company, it said. "We are also exploring opportunities in emerging areas of Green Hydrogen, Battery Energy Storage Systems through collaborations with global technology companies," Rajib K Mishra, CMD (additional charge), PTC India said. Meanwhile, the consolidated profits for the year ending March, 2022 grew by 21 per cent. The consolidated PAT (profit after tax) increased to Rs 552 crore for FY22 compared to Rs 458 crore in FY21. The company also reported record volumes of 87.5 BU (billion units) during the financial year 2021-22, a .

ICRA downgrades PTC Financial Services short-term rating over operations

Failure to improve business volumes may impact profitability of Delhi-based NBFC, says agency

PTC India appoints Mohammad Afzal as power ministry nominee director

Power trading solutions provider PTC India on Tuesday said Mohammad Afzal has been appointed as power ministry nominee director on its board. Afzal's appointment has been approved by the board in a circular resolution on December 12, 2022. He is a Joint Secretary (Transmission) in Ministry of Power. "Mohammad Afzal, has been appointed as Nominee Director of Ministry of Power, Government of India on the Board of PTC India with effect from December 12, 2022," a BSE filing stated. He has no relationship with any of the directors of PTC and is not debarred from holding the office of Director by virtue of any order of Securities and Exchange Board of India (SEBI) or any other such authority, it stated. Afzal holds M.E. (First with Honours) in Power System Engg. degree from the then University of Roorkee (Now, Indian Institute of Technology, Roorkee). He joined Central Electricity Authority in November 1996 and has served in various divisions like System Engg. & Technology Division, ...

PTC India net profit more than trebles to Rs 157 cr in Jan-Mar quarter

Power trading solution provider PTC India's consolidated net profit more than trebled to Rs 157.11 crore in the March 2022 quarter, mainly due to lower expenses. The consolidated net profit of the company was Rs 49.77 crore in the quarter ended March 31, 2021, a BSE filing showed. Its total expenses dipped to Rs 2,890.57 in the quarter from Rs 3,792.56 crore a year ago. The total income also declined to Rs 3,107.04 crore in the quarter from Rs 3,925.99 crore in the year-ago period. Its consolidated net profit stood at Rs 551.67 crore in 2021-22 fiscal compared to Rs 457.62 crore in 2020-21. However, the total income in the fiscal came down to Rs 16,879.77 crore from Rs 18,373.66 crore earlier.

BAE Systems to produce 155 mm ULH titanium castings with PTC Ind in India

The companies will jointly develop a controlled fabrication process and ensure that the same parts can be manufactured in any future production of the M777 howitzers for India

NHPC to sell hydro power to PTC India from upcoming Nepal projects

State-run hydro power giant NHPC has inked a pact with PTC India to supply electricity to be generated from upcoming West Seti & Seti River-6 projects in Nepal, a statement said on Tuesday. The MoU was signed by NHPC CMD A.K. Singh and Dr. Rajib K. Mishra, CMD, PTC India Limited. As per the MoU, PTC shall purchase the Contracted Capacity from NHPC from date of commercial operation of the projects for onward sale to the state utilities/discoms/bulk consumers on long term basis in India and neighbouring countries. The PTC India shall also endeavour to sell any untied capacity on medium/short term basis or on power exchanges, it stated.

Hindustan Power Exchange backed by BSE, PTC to commence operations

The other two exchanges in the country are Indian Energy Exchange (IEX) and Power Exchange of India ltd (PXIL), of which IEX holds a 98 per cent almost monopoly on the total traded power in country

Stocks to Watch Today: Cipla, RIL, PNB, Reliance Power, Metals, Restaurants

Stocks to Watch Today: Shares of metal companies are also to be in focus as copper prices fell to 17-month lows amid new COVID restrictions in China, slowing global manufacturing activity and a jump i

PTC India, Greenstat ink pact to develop green hydrogen solutions

Greenstat Hydrogen India Pvt Ltd (GHIPL) is a subsidiary of Norwegian energy company Greenstat ASA, PTC India said in a statement

ITC Infotech pays $33 mn to PTC for partially acquiring American PLM biz

ITC Infotech on Thursday said it has paid an amount of USD 33 million (around Rs 256 crore) to PTC as part of an agreement to acquire a substantial portion of the American company's product services