NEW DELHI, Jan 18: PTC India today reported over three-fold increase in its net profit at Rs 90.78 crore for the third quarter ended December 31, 2013, helped by increase in power trading volumes.
The company had posted a net profit of Rs 21.9 crore in the corresponding quarter of the last financial year.
Total revenue for the quarter increased by 46.5 per cent to Rs 2751.47 crore against Rs 1877.76 crore in the year-ago quarter, the company said in a statement today.
Commenting on the results, Deepak Amitabh, Chairman & Managing Director of PTC India Ltd, said, “I am happy to present a robust quarterly performance for our company. The volumes during the quarter have increased to 8,236 MU in Q3 of FY’14 as compared to 5,871 MU in Q3 of FY’13, an increase of 40 per cent.”
The company, during the quarter, has commenced supply of 250 MW power to Bangladesh.
PTC has also been authorised by the central government to trade electricity with Bhutan, Nepal and Bangladesh, the statement said.
The Company is also actively participating on Indian Energy Exchange, the first national level power exchange in the country.
The trading activities undertaken by PTC include long-term trading of power generated from large power projects as well as short-term trading arising as a result of supply and demand mismatches. (AGENCIES)
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