New Delhi: PTC India, the power trading company on Thursday said its consolidated net profit during December quarter 2019 dipped 30 per cent to Rs 63.49 crore. The company had logged a profit of Rs 90.20 crore in the year-ago period, a statement said. “Net Profit decreased by 30 per cent to Rs 63.49 crore (in third quarter) from Rs 90.20 crore (year ago) on account of subsidiaries,” it said.
Total income rose to Rs 3,834.42 crore from Rs 3,309.58 crore in October-December 2018. The power trading volume of the company in the quarter increased 5 per cent to 54329 million units (MU) from 51860 MU a year ago.
The company is in the business of power and investment. Consultancy income has not been reported separately as the same being insignificant.
Chairman & Managing Director Deepak Amitabh said, “PTC has successfully sustained the trading volumes during the present quarter which is marked by challenging demand scenario for power offtake. We expect to witness a gradual turnaround of the power demand in coming quarters. We are confident of maintaining our leadership position based upon our diversified business portfolio going forward.”
