PTC India reported 54.5% jump in standalone net profit to Rs 99.13 crore on 4.1% rise in net sales to Rs 3,328.62 crore in Q4 FY21 over Q4 FY20.
The company's volumes have increased by 36% to 16.279 billion units (BUs) in Q4 FY21 from 12.002 BUs in Q4 FY20.
Operating margin from trading has increased 25% to Rs 53.67 crore in Q4 FY21 from Rs 42.99 crore in Q4 FY20.
Profit before tax in Q4 FY21 stood at Rs 106.16 crore, up 23.4% from Rs 86.05 crore in Q4 FY20. Current tax outgo increased by 94.7% to Rs 43.13 crore in the fourth quarter as compared with the same period last year.
The company's standalone net profit increased by 41.7% to Rs 453.71 crore on 1.5% rise in net sales to Rs 16,484.76 crore in FY21 over FY20.
Deepak Amitabh, chairman & managing director, PTC India, said "The year 2020-21 was another year of strong performance for PTC, with our businesses generating record revenue, as well as consolidating our position in each of the segments.
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We continue to make significant progress in rendering innovative solutions to various market participants, thereby further strengthening our engagement and positioning with various parts of the value chain."
Separately, the company informed that its board at the meeting held on 24 June 2021 has approved a letter of intent (LoI) dated 17 June 2021, for acquisition of the energy consulting business undertaking of IL&FS Energy Development Company, a Group Company of IL&FS, for an undisclosed value, on a slump sale basis.
PTC India, a Government of India initiative, is the pioneer in starting a power market in India. The Company has maintained its leadership position in power trading since inception. PTC has also been mandated by the Government of India to trade electricity with Bhutan, Nepal and Bangladesh. The trading activities undertaken by PTC include long term trading of power generated from large power projects including renewables as well as short term trading arising as a result of supply and demand mismatches, which inevitably occur in various regions of the country.
The scrip shed 0.24% to currently trade at Rs 103.50 on the BSE.
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