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PTC India Q3 results: Net profit jumps 80% to Rs 114 cr

NEW DELHI: India on Friday posted an almost 80 per cent rise in consolidated internet revenue at Rs 114.15 crore for the December quarter.

The corporate had reported a consolidated internet revenue of Rs 63.49 crore within the quarter ended December 31, 2019, it mentioned in a BSE submitting.

Whole revenue of the corporate stood at Rs 3,795 crore within the quarter as in opposition to Rs 3,834.42 crore in the identical interval a 12 months in the past.

The group is within the enterprise of energy and funding.

“PTC witnessed an all spherical quantity progress led by the brief time period trades. This quantity progress has been seen on the again of revival of financial actions, pageant demand and Covid led modifications in electrical energy consumption,” PTC India Ltd Chairman and Managing Director Deepak Amitabh mentioned.

The well timed fiscal intervention by the central authorities has aided demand creation and this 12 months’s budgetary deal with spending, improvement of

is more likely to additional consolidate electrical energy demand within the nation, he added.

“The very best ever met demand of 185.82 GW in Jan-21 revalidates fiscal and financial initiatives. We stay cautiously optimistic of consolidating our management place primarily based on the rising alternatives within the coming quarters,” he added.

PTC India Ltd, a Authorities of India initiative, is the pioneer in beginning an influence market in India.

The corporate has maintained its management place in energy buying and selling since inception. PTC has additionally been mandated by the federal government to commerce electrical energy with Bhutan, Nepal and Bangladesh.

The buying and selling actions undertaken by PTC embody long-term buying and selling of energy generated from giant energy initiatives, together with renewables, in addition to short-term buying and selling arising because of provide and demand mismatches, which inevitably happen in varied areas of the nation.

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