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PTC India reported a 21% YoY growth in standalone net sales for June 17 quarter to Rs 4401.77 crore. OPM was flat at 2.0% which resulted in 21% growth in OP Rs 88.77 crore. Other income was higher by 8% to Rs 42.85 crore for Mar 17 quarter. Interest costs was higher by 15% to Rs 35.18 crore and depreciation was down by 12% to Rs 0.68 crore. Thus, PBT was higher by 17% to Rs 95.76 crore. After providing total tax of Rs 30.41 crore up by 21%, PAT for the June 17 quarter stood at Rs 65.35 crore, up by 16% YoY.
Performance for the 12 months ended Mar 17
For the 12 months ended Mar 17, net sales were up by 11% to Rs 14074.83 crore. OPM was lower by 20 bps at 2.2% which resulted in OP of Rs 308.34 crore, up by 2%. Other income was higher by 29% to Rs 237.99 crore. Interest cost was higher by 31% to Rs 134.59 crore. Depreciation was lower by 23% which resulted in a PBT growth of 7% YoY to Rs 409.03 crore. There was an EO loss of Rs 37.52 crore for FY 16 relating to provision for diminution in the value of investments. Total tax stood at Rs 118.14 crore, up by 8% which resulted in a PAT growth of 24% to Rs 290.89 crore, for the 12 months ended Mar 17.
Other updates
Total volumes traded in June 17 quarter stood at 14.18 Billion Units (BU), up by 16% YoY. Long term volumes stood at 41% of total volumes and grew by 24% in June 17 quarter on YoY basis.
PTC has won the tender for managing the exchange portfolio for PSPCL (Punjab State Power Corporation Limited) for FY 2017-18.
Supply of entire quantum of 390 MW of power from TRN Energy started in the month of May to UPPCL on long term basis.
PTC has executed agreements for supply of 400 MW wind power to the States of Bihar and Jharkhand under MNRE scheme.
Agreement for Cross Border Trade with Chukha HEP in Bhutan extended for further period; also extended agreement for cross border trade with Bangladesh.
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