PTC India Q3 results out, Net consolidated profit stood at Rs 97.04 crore

Power Trading solutions provider PTC India has announced its quarterly results for December 2023 where net consolidated profit fell over 7 percent to Rs 97.04 crore.

PTC India Q3 results out, Net consolidated profit stood at Rs 97.04 crore

The Power sector company has reported to be impacted by higher expenses as net profit for the previous fiscal year of the same quarter was Rs 104.48 crore. The company’s total income, however, increased to Rs 3,483.93 crore from Rs 3146.91 crore in the previous fiscal year. The expenses surged to Rs 3,353.09 crore from Rs 3,003.86 crore in the third quarter of the previous fiscal year.

The 9 months of FY24 have witnessed a 5 percent increase in overall [power] trading volumes for the company. This increase in volume is supported by a robust trading margin of 3.52 paisa/unit. PTC India Ltd is a government of India initiative where the company has maintained its leadership position in power trading since its inception.

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According to the company’s official statements, PFS, a subsidiary of the company has embarked on a strategic path of transformation and is poised for sustained growth and success in the forthcoming years. The EPS [earning per share on a consolidated basis] decreased to Rs 2.68 in Q3FY24 compared to Rs 3.10 in Q3FY23.

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