MUMBAI, 12 AUGUST, 2020 (GPN): PTC India Limited, the leading provider of power trading solutions in India, today announced its financial results for the quarter ended Jun 30, 2020.

Management comment

Commenting on the results, Mr. Deepak Amitabh, Chairman & Managing Director PTC India Ltd.  said, “Business volumes during the quarter, are in part reflective of the trends in demand during the lockdown period and the subsequent periods of gradual opening up starting mid-quarter. While the demand for traded electricity was impacted initially, the gradual restoration of economic activity has seen a revival of demand to levels comparable to the corresponding period last year. Yet again, it is a demonstration of our balanced business portfolio and its resilience in stress situations.

Movement in broad economic indicators, effective availability of liquidity to the DISCOMs and consequently, the demand for traded electricity need to be watched for another quarter before a significant trend can be predicted. Positive results of structural initiatives taken by Govt. of India in the wake of COVID -19 are now visible, and we remain cautiously optimistic. We are confident of consolidating our leadership position based on emerging opportunities in the sector during the coming quarters.”

Financial performance

Q1FY21 vs Q1FY20 (Standalone)

• Volumes have decreased by 2 % to 18.918 BUs from 19.365 BUs.
• Total operational income has decreased by 8% to ₹ 115.66 crore from ₹ 125.83 crore.
• EBITDA (excluding IndAS contra interest expenses and income) has decreased by 7% to ₹ 97.72 crores from ₹ 105.44 crore
• PAT has increased by 8% to ₹ 67.67 Crores from ₹ 62.77 Crores
• Total comprehensive income has increased by 8% to ₹ 67.75 crore from ₹ 62.57 crore.
• Earnings per share (EPS) for the quarter stands at ₹ 2.29 compared to ₹ 2.12

Q1FY21 vs Q1FY20 (Consolidated)

• Volumes have decreased by 2% to 19.064 BUs from 19.529 BUs.
• PBT has increased by 2% to ₹ 141.79 crore from ₹ 139.61 crore.
• PAT has increased by 7% to ₹ 100.06 Crores from ₹ 93.26 Crores.
• Total comprehensive income has increased by 5% to ₹ 98.90 crore from ₹ 93.89 crore.
• Earnings per share (EPS) for the quarter stands at ₹ 3.07 compared to ₹ 2.97 ENDS

About PTC India Limited
PTC India Ltd., a Government of India initiative, is the pioneer in starting a power market in India. The Company has maintained its leadership position in power trading since inception. PTC has also been mandated by the Government of India to trade electricity with Bhutan, Nepal and Bangladesh.
The trading activities undertaken by PTC include long term trading of power generated from large power projects as well as short term trading arising as a result of supply and demand mismatches, which inevitably occur in various regions of the country.
The Company is credited with a number of products in the electricity trading market to meet the divergent needs of the customers. Driven by the vision of shaping a vibrant power market, PTC has been providing value-added services to its clients and built trust as a reliable partner. The electricity traded from cross border resources is a significant component of the total
electricity traded by the Company.
PTC is a unique example of a successful public-private partnership with major PSUs of the Ministry of Power, Government of India as promoters and a widely held ownership interest. The diverse composition of its Board of Directors includes eminent people as independent directors.ENDS