PTC India & Rane Ltd Q2 results

CORPORATE SCORECARD

PTC India Ltd reported 45 per cent increase in net profit during July-September at Rs 9.52 crore as against Rs 6.58 crore reported in the corresponding quarter of the previous year.

Its income during the quarter increased by 45 per cent to Rs 863.25 crore as against Rs 594.39 crore during the corresponding quarter of the previous year.

The volumes showed a healthy growth of 13 per cent, increasing to 3,148 million units as against 2,780 MUs the previous year. The profit before depreciation, interest and tax (PBDIT) increased by 35 per cent to Rs 15.47 crore as compared to Rs 11.44 crore.

"Even though the recent quarters have witnessed high volatility in this market, we have maintained our dominant position," said PTC chairman and managing director TN Thakur in a press statement.

PTC would continue to focus on facilitating new generation capacity through entering into long-term agreements with developers, he said. Total income during the six-month period ended September 2005 increased by 20 per cent to Rs 1,307.23 crore as against Rs1,090.17 crore during the corresponding period of the previous year.

The profit after tax increased by 54 per cent to Rs 20.85 crore in the period as against Rs 13.54 crore. By the end of the quarter, PTC has entered into long-term MOUs for a total of 10,212 MW, and detailed Power Purchase agreements have been signed for 2528.3 MW.

Agreements on sale of these projects' capacity on a long-term basis, in the form of MOUs/PSAs, have been signed for a total of 1059.5 MW. Projects aggregating to a capacity of 3,138 MW are under discussion.

Rane Ltd net up 74% Rs 2.24 cr

Rane (Madras) Ltd reported a net profit of Rs 2.24 crore for the quarter ended September 30 as against Rs 1.29 crore in the same period previous year, up 73.64 per cent.

The company has reported a marginal growth in its net sales to Rs 67.92 crore from Rs.66.97 crore for the quarter ended September 2005.

The net profit for the first half of 2005-06 stood at Rs 3.23 crore on net sales of Rs 131.4 crore. The half yearly figures are not comparable on account of a dmerger that took effect last year.