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PTC India reported a 19% YoY growth in standalone net sales for Sep'16 quarter to Rs 4049.61 crore. OPM however was lower by 20 bps to 2.2% which restricted the growth in OP to 11% to Rs 90.98 crore. Other income was higher by 3% to Rs 101.52 crore for Sep'16 quarter Interest costs was lower by 3% to Rs 46.59 crore and depreciation was down by 5% to Rs 0.84 crore. Thus, PBT was higher by 10% to Rs 145.07 crore. After providing total tax of Rs 32 crore, PAT for the Sep'16 quarter stood at Rs 113.07 crore, up by 10% YoY.
Performance for the half year ended Sep'16
For the 6 months ended Sep'16, net sales were up by 16% to Rs 7693.94 crore. OPM was flat at 2.1% which resulted in OP of Rs 164.36 crore, up by 16%. Other income was lower by 2% to Rs 141.24 crore. Interest cost was lower by 4% to Rs 77.29 crore. Depreciation was lower by 8% which resulted in a PBT growth of 11% YoY to Rs 226.70 crore. Total tax stood at Rs 57.18 crore, up by 11% which resulted in a PAT growth of 11% to Rs 57.18 crore, for the 6 months ended Sep'16.
Other updates
Total volumes grew by 24% in Sep'16 quarter to 15561 M Units on YoY basis.
PTC has been selected as a trading partner in MNRE‟s scheme for development of 1000 MW wind farms. Under the said scheme PTC will be executing the agreements for sale and purchase of 1000 MW wind power on long term basis.
The company continues to grow its Direct-to-business segment with addition of industrial consumers. PTC's exchange traded volumes increased to 9286 MUs in H1FY17 compared to 6436 MUs in H1FY16
PTC has signed agreements for supply of power with Southern Railways in TN for 100-120 MW and Southern Central Railways in AP for 200 MW. This power supply will be till Feb, March, 2017.
PTC's wholly owned subsidiary, PTC Energy Limited, is growing its portfolio of Renewable Energy Projects. The company has executed contracts for development of about 240 MW wind farms which are expected to be commissioned in FY17.
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