Power buying and selling options supplier PTC India on Saturday posted a 5.62% year-on-year rise in consolidated net revenue to ₹142.70 crore for the April-June quarter of this fiscal, primarily on the again of upper revenues.
Consolidated net revenue stood at ₹135.10 crore in the quarter ended on June 30, 2022, the corporate stated in a regulatory submitting.
Total earnings of the corporate rose to ₹4,863.46 crore in the quarter beneath evaluate, from ₹4,310.74 crore in the identical interval a 12 months earlier.
“The company achieved an impressive 21% growth in profitability, propelled by strong growth in volumes and effective working capital management,” PTC India Chairman & Managing Director Rajib Okay. Mishra stated.
He famous that the corporate achieved the best ever PBT (revenue earlier than tax) and PAT (revenue after tax) for the primary quarter of a monetary 12 months.
The subsidiary corporations continued to carry out effectively through the quarter reaffirming the robustness and general resilience of the PTC Group’s enterprise mannequin.
The challenges confronted by our monetary subsidiary, PFS, over the previous couple of years have been successfully addressed which is validated by the sequential monetary metrics, he added.
Moreover, he said that the corporate is actively exploring avenues to monetise its wholly owned subsidiary, PTC Energy Ltd., and has obtained expressions of curiosity from numerous main corporates.
The strategy of bidding is on and is predicted to be accomplished shortly, he added.
The Hindustan Power Exchange (HPX), sponsored by the PTC, is making vital strides in enterprise volumes, and has garnered a 3rd of the market in the Term Ahead Segment, he famous.
With the introduction of revolutionary merchandise like HP-TAM and AS-RTM, designed to cater to the dynamic wants of the Indian Power Markets, HPX is increasing its market presence and is establishing its status as a reputable platform, he stated.
The current coverage initiatives from the Government of India are anticipated to create a positive enterprise setting that may enhance the expansion prospects of HPX, he added.
