|
PTC India reported a 31% YoY growth in standalone net sales for Sep 17 quarter to Rs 5289.31 crore. OPM was down at 1.8% from 2.2% of Sep 16 quarter, which restricted the bottom line growth to 3% to Rs 93.62 crore. Other income was higher by 23% to Rs 93.62 crore for Sep 17 quarter. Other income includes dividend income of around Rs 62 crore from its subsidiary. Interest costs was higher by 15% to Rs 53.37 crore and depreciation was down by 18% to Rs 0.69 crore. Thus, PBT was higher by 13% to Rs 164.52 crore. After providing total tax of Rs 33.98 crore up by 6%, PAT for the Sep 17 quarter stood at Rs 130.54 crore, up by 15% YoY.
Performance for the 6 months ended Sep 17
For the 12 months ended Sep 17, net sales were up by 26% to Rs 9691.08 crore. OPM was lower by 20 bps at 1.9% which resulted in OP of Rs 182.39 crore, down by 11%. Other income was higher by 19% to Rs 167.81 crore. Interest cost was higher by 15% to Rs 88.55 crore. Depreciation was lower by 15% which resulted in a PBT growth of 15% YoY to Rs 260.28 crore. Total tax stood at Rs 64.39 crore, up by 13% which resulted in a PAT growth of 16% to Rs 195.89 crore, for the 12 months ended Sep 17.
Operational developments
Total volumes traded in Sep 17 quarter stood at 16.8 Billion Units (BU), up by 8% YoY. Total volumes for H1 ended Sep 17 stood at 31 BU up by 11.6% YoY.
PTC signed PPAs for purchase of 1050 MW wind power projects. Corresponding PSA's for the entire quantum have also been entered into.
PTC has won a tender floated by Jammu & Kashmir Power Development Department (JKPDD) for trading of Power on Power Exchange "on an as is when is basis"
PTC has signed an amendment agreement with Bangladesh Power Development Board (BPDB) and West Bengal State Electricity Distribution Company Limited (WBSEDCL) for extension of 250 MW power supply upto 31st Jan 2018
Assam Electricity Regulatory Commission has approved PSA signed between PTC and APDCL for supply of power from Nikhachu Hydro Electric Project in Bhutan on long term basis for 25 years.
Solar Energy Corporation Limited has extended the existing contract for facilitation of trading of solar power of upto 750 MW by 6 months till 31st Sep 2018
In view of the continued distress in 3 projects where Athena Energy Ventures Pvt ltd (AEVPL) has invested, during the quarter total investment of Rs 150 crore by the company into AEVPL has been reduced by Rs 42.45 crore in addition to Rs 32.55 crore reduced during the quarter ended Mar 17.
|