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New Delhi: Power trading solutions provider PTC India on Tuesday posted about 33 percent rise in its consolidated net profit to Rs 189 crore in the June quarter due to lower expenses.
"Consolidated Profit After Tax (PAT or net profit) in Q1-FY25 was Rs 189 crore compared to Rs 143 crore in Q1 FY24, an increase of 33 percent," a company statement said.
The total expenses came down to Rs 4,486.14 crore in the quarter from Rs 4,603.93 crore a year ago.
The earnings per share (EPS) of the company increased to Rs 5.87 in Q1 FY25 compared to Rs 4.39 in Q1 FY24.
The trading volume was 20.5 BUs (billion units) in Q1 FY'25 compared to 20.6 BUs in Q1 FY'24.
Consulting income for Q1 FY'25 stood at Rs 11 crore. The core margin was 3.50 paisa per unit.
Manoj Kumar Jhawar, Chairman and Managing Director (Addl Charge) and Director (Commercial & Operation), PTC India, said, "The unusual changes in demand pattern, partly due to extreme weather conditions during the quarter saw high electricity demand and mismatches. The flat volume achieved in this scenario represents the balanced portfolio composition of the company".
"In the endeavour to increase energy offerings, we have made operational medium-term contract supply of power for 5 years," Jhawar said.
"The supply from renewable sources has shown some variance from last quarter, but overall, they are performing as per their design capacity and contractual obligations. We expect to maintain the trend in the near term."
PTC India, a government initiative, is the pioneer in starting a power market in India.
PTC has also been mandated by the government to trade electricity with Bhutan, Nepal and Bangladesh.
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