PTC India Ltd's Q2FY21 net profit up by 23 pc to Rs 166.19 Cr
Kolkata/IBNS: Power trading solutions provider PTC India Ltd's on Monday announced a net profit of Rs 166.19 crores up by 23 per cent for quarter ended September 30, compared to Rs 134.90 crores in the year-ago period.
Commenting on the results, Mr. Deepak Amitabh, Chairman & Managing Director, PTC India Ltd. said, “The growth in business volumes during the quarter has been led by the demand spillover from the first quarter. The pent up-demand arising out of gradual unlock-down of the commercial activities from various segments including industries, commercial, domestic and agriculture, too contributed substantially to the same. This has been ably supported by increased supply from the hydro and renewable sources during the period."
EBITDA (excluding IndAS contra interest expenses and income) for the second quarter of this fiscal has increased by 25 per cent to Rs 222.40 crores from Rs 177.49 Crore in the same quarter last year, the company said in a statement.
Total operational income increased by 32 per cent year-on-year (y-o-y) to Rs 224.37 crore from Rs 169.67 crore while Earnings per share (EPS) for the quarter stood at Rs 5.61 compared to Rs 4.56, the company said.
Volumes have increased by 20 per cent to 26.247 BUs from 21.812 BUs during the quarter.
The company said the liquidity infusion into the Distribution companies as part of Atma Nirbhar Bharat and RBI’s softer monetary policy by RBI contributed to the effective liquidity management.
"We expect the fiscal intervention by central government to boost demand going forward as generally there is a time lag between the steps taken and real demand creation. We remain confident that all these efforts including development of industrial infrastructure will keep the demand robust going forward," Mr Amitabh said.
"The reforms in the sector will be key events to watch for in general and market based intervention tools in particular. We remain cautiously optimistic of consolidating our leadership position based on the emerging opportunities in the coming quarters,” he further added.
Half-yearly result according to PTC India Ltd's press release:
H1FY21 vs H1FY20 (Standalone)
Volumes have increased by 10 per cent to 45.165 BUs from 41.177 BUs.
Total operational income has increased by 15 per cent to Rs 340.03 crore from Rs 295.50 crore.
EBITDA (excluding Ind-AS contra interest expenses and income) has increased by 13 per cent to Rs 320.14 crores from Rs 282.95 crore
PAT has increase 18 per cent to Rs 233.86 Crores from Rs 197.67 Crores
Earnings per share (EPS) for the quarter stands at Rs 7.90 compared to Rs 6.68.
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