PTC India Limited, the leading provider of power trading solutions in India, today announced its consolidated financial results for the First Quarter ended June 2022, Second Quarter & Half year ended 30 September, 2022.
Summary of Financial Performance for Q1 FY23
- Consolidated Profit After Tax (PAT) in Q1FY23 was INR 135.10 Crores compared to INR 136.17 Crores in Q1 FY22
- Consolidated Profit Before Tax (PBT) in Q1FY23 was INR 181.84 Crores compared to INR 182.94 Crores in Q1FY22
- The Trading Volumes was 17831 MU in Q1FY23 compared to 23703 MU in Q1FY22
Summary of Financial Performance for Q2 FY23
- Consolidated Profit After Tax (PAT) in Q2FY23 was INR 138.23 Crores compared to INR 195.48 Crores in Q2FY22
- Consolidated Profit Before Tax (PBT) in Q2FY23 wasINR 185.66 Crores for Q2FY23 compared to INR 261.5 Crores in Q2FY22
- The Trading Volumes were 21212 MU in Q2FY23 compared to 27999 MU in Q2FY22
Summary of Financial Performance for H1 FY23
- Consolidated Profit After Tax (PAT) in H1FY23 was INR 273.33 Crores compared to INR 331.65 Crores in H1FY22
- Consolidated Profit Before Tax (PBT) in H1FY23 wasINR 367.50 Crores for H1FY23 compared to INR 444.44 Crores in H1FY22
- The Trading Volumes in H1FY23 was 39042 MU compared to 51072 MU in H2FY22
Commenting on the results, Dr. Rajib K Mishra, CMD (Addl. Charge), PTC India Ltd.,said "We are pleased to declare the financial results for Q1 & Q2FY23 and H1FY23. Recently, on 24 November 2022, the company had also declared the consolidated annual results for the FY22. These consolidated results of the company were long overdue due to various reasons. The publishing of these results would assure our esteemed Institutional and retail investors about company's commitment to meet all the statuary and regulatory compliances. I would like to reiterate that the top management of the company is committed to the highest standards of transparency and corporate governance.
On the business side, the trading volumes during the period were impacted due to high tariffs in short term power markets and supply side constraints on back of high prices of imported and e- auction coal.
PTC's robust business model that has withstood the volatile market prevailing in the first two quarters has also allowed us to explore newer models especially in the renewable energy aggregation space. We are creating newer offerings for the renewable energy market along with taking market and credit risks by using our domain knowledge. With the country planning to meet its target of 500 GW installed RE capacities by 2030, PTC looks forward to play a major role in introducing new renewable energy products for the regional power markets and being a proactive player in this exciting journey of Energy Transition."
Shares of PTC India Limited was last trading in BSE at Rs. 94.80 as compared to the previous close of Rs. 93.60. The total number of shares traded during the day was 120226 in over 674 trades.
The stock hit an intraday high of Rs. 95.50 and intraday low of 93.20. The net turnover during the day was Rs. 11341526.00.