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  • PTC India Q3FY14 net profits up by 315% to Rs. 90.78 Crore

    Published on January 19, 2014

    Mumbai: PTC India Limited, the leading provider of power trading solutions in India, today announced its financial results for the quarter and period ended December 31,2013.

    The Company’s total revenue for the quarter ended December 31, 2013 (Q3FY14) increased by46.5% to Rs.2751.47 Crore as against Rs.1877.76 Crore in the quarter ended December 31,

    2012 (Q3FY13). Earnings before Interest, Depreciation and Taxation (EBIDTA) registered anincrease of 332% to Rs. 135.31 Crore from Rs. 31.27 Crore. Net profit surged by 314% to Rs.

    90.78 Crore from Rs. 21.9 Crore in the Q3FY13. The company’s earnings per share (EPS) for Q3FY14 improved by 313% to Rs. 3.06, as compared to Q3FY13.

    For the nine-month period ended December 31, 2013 (9MFY14), the company registered a growth of 30% in the total revenues to Rs. 8662.09 Crore, against Rs. 6658.1 Crore during

    9MFY13. The company’s EBIDTA improved by 102.31% to Rs. 264.42 Crore in 9MFY14 from Rs. 130.70 Crore in 9MFY13. The company’s net profits during 9MFY14 improved by 98.78% to

    Rs. 182.29 Crore against Rs. 91.70 Crore during 9MFY13. The company’s EPS for 9MFY14 improved by 99% to Rs. 6.16 against Rs. 3.11 during 9MFY13.

    The company’s volumes witnessed substantial y-o-y growth on the back of increase in volumes in multiple business segments. During Q3FY14, the company registered a 40% increase in traded volumes at 8236 MUs against 5871 MUs during Q3FY13. The company continued to increase its presence in retail (Direct-to-Business) segment with more than 1750 MU being contributed by Retail in 9 Months. Similarly, trading volumes from long-term trades registered a 38.5% growth, with 3,906 MUs being traded compared to 2,821 MUs during the corresponding period of 9MFY13.

    The company will remain focused on increasing its presence in multiple business segments like long term, medium term and short term sales to utilities as well as to the retail (Direct-to-Business) segment. The company has already tied-up more than 11,000 MW generation capacity on long term basis, and is actively converting this into power-sale agreements. The company has already executed Long Term Power Sale Agreement for 6745 MW (including for Cross Border sales)

    Commenting on the results, Mr. Deepak Amitabh, Chairman & Managing Director, PTC India Ltd said “I am happy to present a robust quarterly performance for our company. The volumes during the quarter have increased to 8236 MU in Q3FY14 as compared to 5871 MU in Q3FY13,an increase of 40%. The company has also been able to realize a surcharge amount of Rs 138.23 Crores, mainly from UPPCL, for delayed payments, of which about Rs. 73 Crore is the net realization for PTC.

    The company, during the quarter, has commenced supply of 250 MW power to Bangladesh. Further, the company tied up (through LOIs / PPAs) sale of power on Long Term basis for about

    1100 MW to the Utilities of Rajasthan, Uttar Pradesh and Tamil Nadu.

    Despite the vagaries related to the power sector, we remain optimistic about the growth in our business volumes and expect a healthy pace to continue going forward. Strong balance sheet, robust cash flows and decades of experience in the sector puts PTC in a position to benefit from any opportunity that comes its way. The successful performance of our subsidiaries is a testament to the same.”

    Source : Sachin Murdeshwar