PTC India's net profit rises by 46% to Rs 202 crore in Q2

New Delhi: Power trading solution provider PTC India Limited on Friday posted over 46 percent 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 percent 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.

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He pointed out that the company's core margin witnessed an increase of 16 percent 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 percent.

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