Higher power trading lifts PTC Q3 net

PTC India on Saturday reported over three-fold increase in its net profit at Rs 91 crore for the third quarter ended December, helped by higher power trading volumes.

The company posted a net profit of Rs 22 crore in the corresponding quarter last year.

Total revenue for the quarter increased 46.5 per cent to Rs 2,751.5 crore against Rs 1,878 crore in the year-ago quarter, the company said.

Commenting on the results, Deepak Amitabh, chairman and managing director, said, "The volumes during the quarter have increased to 8,236 million units (mu) in Q3 of FY14 as compared to 5,871 mu in Q3 of FY'13, an increase of 40 per cent."

The company, during the quarter, started supply of 250 Mw power to Bangladesh.

PTC has also been authorised by the Centre to trade electricity with Bhutan, Nepal and Bangladesh, the company said.

The company is also participating on the Indian Energy Exchange, the first national level power exchange.