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PTC India reported a 14% YoY growth in standalone net sales for June 18 quarter to Rs 3387.05 crore. OPM was lower by 20 bps to 2.8% which restricted the OP growth to 6% to Rs 94.51 crore. Margins were lower due to higher volumes of short term trades which have lower margins compared to long term volumes traded during June 18 quarter. Other income was lower by 26% to Rs 31.71 crore due to lower treasury income. Interest costs was lower by 12% to Rs 31.09 crore and depreciation was down by 3% to Rs 0.66 crore. Thus, PBT was lower by 1% to Rs 94.47 crore. After providing total tax of Rs 33.03 crore up by 9%, PAT for the June 18 quarter stood at Rs 61.44 crore, down by 6% YoY.
Commenting on the results, Mr. Deepak Amitabh, Chairman & Managing Director, PTC India Ltd., said
"We have witnessed quarter's business performance along expected lines. The capacity added to our portfolio is healthy for our long term business portfolio balance. We look forward to greater participation in resolving stakeholder issues by adopting models such as the aggregator that we have effected during the quarter. "
Operational developments
During the quarter, business mix of the company has tilted to the short term business. Short term has contributed around 60% of the volume and balance has been contributed by long & medium term. The total margin has been little lower due to the same.
Long term power purchase agreement with renewable (wind) projects portfolio of 1050 MW. The supply is expected from next year onwards. This capacity is expected to contribute around 3 BUs of trade volumes annually.
400 MW of long term power was operationalised in this quarter. The effect of these contracts shall be visible in the coming quarters. The capacity is expected to contribute around 1.5 BUs to the total trading volume.
In the consulting business, the order book addition has been more than 15 Crore and total order book is now at Rs 80 Crore.
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