Ptc India

PTC India Q2 results: Net profit rises 16% to Rs 234 cr on higher revenues

Power trading solutions provider PTC India on Tuesday posted a nearly 16 per cent rise in its consolidated net profit to Rs 233.82 crore for the September quarter on higher revenues. The company had reported a consolidated net profit of Rs 202.31 crore in the quarter ended September 2023, a BSE filing showed. Its total income rose to Rs 5,133.63 crore in the quarter from Rs 5,088.29 crore a year ago. The Board of Directors of the company in its meeting held on November 12, 2024, approved the appointment of Rajneesh Agarwal as the nominee director of NHPC Ltd on the board, the filing stated. In a separate statement, the company stated that the trading volume rose 13 per cent in Q2 FY25 to 24,039 MU (million units compared to 21,326 MUs in Q2 FY24. The consulting income for Q2 FY25 stood at Rs 10.30 crore while the core trading margin stood at 3.60 paise per unit, it informed. PTC India Chairman and Managing Director Manoj Kumar Jhawar said, "A healthy mix of volume from trades acr

Indian power firms owed over $1 bn by Bangladesh amid financial turmoil

Five Indian power companies-Adani Power, SEIL Energy India, NTPC, PTC, and Power Grid Corporation of India-are collectively owed over $1 billion.

PTC India Q1 results: Net profit rises 33% to Rs 189 cr on lower expenses

Power trading solutions provider PTC India on Tuesday posted about 33 per cent rise in its consolidated net profit to Rs 189 crore in the June quarter due to lower expenses. "Consolidated Profit After Tax (PAT or net profit) in Q1-FY25 was Rs 189 crore compared to Rs 143 crore in Q1 FY24, an increase of 33 per cent," a company statement said. The total expenses came down to Rs 4,486.14 crore in the quarter from Rs 4,603.93 crore a year ago. The earnings per share (EPS) of the company increased to Rs 5.87 in Q1 FY25 compared to Rs 4.39 in Q1 FY24. The trading volume was 20.5 BUs (billion units) in Q1-FY25 compared to 20.6 BUs in Q1 FY24. Consulting income for Q1 FY25 stood at Rs 11 crore. The core margin was 3.50 paisa per unit. Manoj Kumar Jhawar, Chairman and Managing Director (Addl Charge) and Director (Commercial & Operation), PTC India, said, "The unusual changes in demand pattern, partly due to extreme weather conditions during the quarter saw high electricity demand and ...

Former PTC India CMD Rajib Mishra to move SAT against Sebi's order

Former PTC India Chairman and Managing Director Rajib Kumar Mishra will move the Securities Appellate Tribunal (SAT) against market regulator Sebi's order to debar him from being a director in a listed entity for six months. Following the order passed by markets regulator Sebi last week, Mishra ceased to be the chairman of PTC India Financial Services Ltd (PFS) and CMD of PTC India Ltd. Talking to PTI, Mishra said, "Sebi's order is appealable, and in the merit of the order, I will go to SAT for further action and to safeguard my rights". PFS, promoted by PTC India Ltd, is a non-deposit-taking NBFC classified as an infrastructure finance company. Mishra held office in PFS in the capacity of chairman and non-executive director and was also holding the position of Chairman and Managing Director of PTC India Ltd. "Pursuant to...regulatory order issued by Sebi, Rajib Kumar Mishra ceases to be the chairman, non-executive director of the company with effect from the date of issue of the

This smallcap stock has zoomed 87% in 8 days; skyrocketed 10,889% in 4 yrs!

Shares of PTC Industries hit a new high of Rs 14,950, as they surged 19 per cent on the BSE in Friday's intraday trade

This smallcap stock has zoomed 37% in 2 days; up 322% from 52-week low

PTC Industries stock hit a record high of Rs 11,301, as it rallied 15% in Thursday's intra-day trade and has soared 45% in one week after the company reported a healthy 59.9% YoY growth in Q4 PAT.

PTC India defers board meeting due to unavailability of subsidiary results

Power trading solution provider PTC India on Wednesday said it has deferred its May 30 board meeting due to non-availability of financial results of subsidiary PFS. PTC India Financial Services (PFS), in which the company holds 64.99 per cent stake, is registered with RBI as a Non-Banking Financial Company (NBFC), a regulatory filing said. The company will submit its financial results in due course and date of the board meeting will be intimated separately, it stated. "Board meeting proposed on May 30th, 2024 for consideration of approval of standalone and consolidated Financial Results of PTC India for the quarter and year ended March 31, 2024, including recommendation for final dividend for FY23-24 has been deferred on account of non-availability of financial results of PFS," the filing added.

PTC India gets shareholders' nod to sell 100% stake in energy arm to ONGC

Power trading solutions provider PTC India on Thursday received shareholders approval for selling 100 per cent equity stake in its arm PTC Energy to state-owned ONGC Ltd for an enterprise value of Rs 2,021 crore. As much as 93.61 per cent of votes were in favour of the special resolution to approve the proposal for 100 per cent disinvestment (by way of sale, transfer or otherwise) in its wholly-owned subsidiary PTC Energy Ltd, at an extraordinary general meeting held on Thursday, a regulatory filing said. In October, PTC India announced that the upstream firm ONGC had emerged as the successful bidder for acquiring 100 per cent stake in PTC Energy for an enterprise value of Rs 2,021 crore. In November 2023, PTC India Chairman and Managing Director Rajib K Mishra had told PTI in an interview, "With the transfer of PTC Energy's assets, the company would become virtually debt-free." Mishra had also informed that the enterprise value of PTC Energy includes Rs 925 crore bid of ONGC as we

PTC Q3 results: Net profit slips 7% to Rs 97 cr, income up at Rs 3,483 cr

Power trading solutions provider PTC India on Wednesday reported over 7 per cent fall in its consolidated net profit to Rs 97.04 crore for the December 2023 quarter, impacted by higher expenses. It had clocked a net profit of Rs 104.48 crore in the year-ago period, the company said in an exchange. The company's total income, however, increased to Rs 3,483.93 crore from Rs 3,146.91 crore a year ago. Its expenses surged to Rs 3,353.09 crore from Rs 3,003.86 crore in the third quarter last fiscal. PTC India Ltd, 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 its inception. The trading activities involve long-term trading of power generated from large power projects, including renewables and short-term trading arising as a result of supply and demand mismatches. In a separate statement, its CMD Rajib K Mishra said, "The 9 months of FY24 have witnessed a 5 per cent increase

PTC India to be debt free post divestment of PTC Energy to ONGC, says CMD

Power trading solution provider PTC India would soon achieve a debt-free status following the divestment of its arm, PTC Energy, to ONGC for an enterprise value of Rs 2,021 crore, according to a top official. PTC India in October announced that the upstream firm ONGC had emerged as the successful bidder for acquiring its 100 per cent stake in PTC Energy for an enterprise value of Rs 2,021 crore. In an interview with PTI, PTC India Chairman and Managing Director Rajib K Mishra said, "With the transfer of PTC Energy's assets, the company would become virtually debt-free." Mishra said the enterprise value of PTC Energy includes Rs 925 crore bid of the ONGC as well as over Rs 1,100 crore debt component which will be transferred to the oil company after the transaction is complete. PTC India's outstandings have reduced drastically due to the Late Payment Surcharge scheme and it is now emerging as a company that does not take loans to meet its working capital needs, he pointed out. He .

PTC India Q2 results: Net profit rises 46% to Rs 202 cr on higher revenues

Power trading solution provider PTC India on Friday posted over 46 per cent jump in its consolidated net profit to Rs 202.31 crore for the September 2023 quarter, mainly on the back of higher revenues. The company's consolidated net profit stood at Rs 138.23 crore in the year-ago period, according to a BSE filing. The total income rose to Rs 5,224.85 crore in the quarter from Rs 4,901.84 crore a year ago. "We have experienced a remarkable growth in profitability in the consolidated quarterly numbers, a 46 per cent increase, driven by growth in core margins, efficient working capital management and improved contributions from our subsidiaries and associate company," PTC India Chairman and Managing Director Rajib K Mishra said in a statement. He pointed out that the company's core margin witnessed an increase of 16 per cent during this period. Overall -- the holding company, two subsidiaries and associate company Hindustan Power Exchange -- all have shown good growth during the quar

PTC to divest 100% equity in energy arm for Rs 2,021 cr enterprise value

Power trading solution provider PTC India on Thursday said the company will divest its 100 per cent equity stake in its arm PTC Energy to state-owned upstream firm ONGC for an enterprise value of Rs 2,021 crore. "Bid submitted by ONGC is an all-cash bid of Rs 925 crore for acquiring PTC's 100 per cent equity stake in PTC Energy Ltd, which corresponds to an enterprise value (i.e. the sum of outstanding debt and equity value) of Rs 2,021 crores, subject to adjustments on the date of transaction closure as per the bid format," PTC India stated in a BSE filing. This is to further our intimation filed to the stock exchanges and to clarify some media reports regarding PTC's stake sale in PTC Energy Ltd (PEL), it stated. The company had invited bids for selling a 100 per cent equity stake in PTC Energy. ONGC emerged as the successful bidder with a cash bid of Rs 925 crore. PTC Energy was established in August 2008 as a subsidiary of PTC India to play a pivotal role in India's emerging ene

ONGC wins bid to acquire PTC India's wind power unit for Rs 925 crore

Oil and Natural Gas Corporation (ONGC) has won a bid to acquire PTC India Ltd's wind power unit for Rs 925 crore as the state-owned firm continues to build a renewable energy portfolio to balance its fossil fuel business. In a stock exchange filing, India's top oil and gas producer said it has over the years diversified into the petrochemicals and power business besides growing its core business of finding hydrocarbons. ONGC said it has taken various initiatives for renewable energy power generation and already has 189 megawatt (MW) capacity, including wind and solar PV plants spread across various locations. "With a vision to expand its business in renewable energy, the company had participated in the bidding process for acquisition of 100 per cent equity stake of PTC Energy Limited (PEL), a wholly-owned subsidiary of PTC India Limited (PTC)," it said. The PTC board last week approved ONGC's bid for the acquisition of a 100 per cent equity stake in PEL at an equity value of Rs 925

PTC India consolidated net profit up 5.62% to Rs 143 cr in June quarter

Power trading solutions provider PTC India on Saturday posted a 5.62 per cent year-on-year rise in its consolidated net profit at Rs 142.70 crore for the April-June quarter of this fiscal, mainly on the back of higher revenues. The consolidated net profit of the company stood at Rs 135.10 crore in the quarter ended on June 30, 2022, the company said in a regulatory filing. Total income of the company rose to Rs 4,863.46 crore in the quarter under review, from Rs 4,310.74 crore in the same period a year ago. "The company achieved an impressive 21 per cent growth in profitability, propelled by strong growth in volumes and effective working capital management," PTC India Chairman & Managing Director Rajib K Mishra said. He noted that the company achieved the highest ever PBT (profit before tax) and PAT (profit after tax) for the first quarter of a financial year. The subsidiary companies continued to perform well during the quarter reaffirming the robustness and overall resilience of

PTC India plans to provide 24x7 power trading solutions: CMD Mishra

PTC India is planning to provide round-the-clock (RTC) power offerings by "blending" green energy with thermal, its CMD Rajib Kumar Mishra has said. The offerings will also include storage solutions, the official made the remarks at the company's 24th Annual Day in the national capital. "PTC India stands strong and focused on taking up market risks and positions. Focused on crafting innovative solutions and acting as virtual power plants, PTC India aims to provide round-the-clock power offerings by blending renewable energy with thermal generation and storage solutions," Mishra said on Friday. PTC is a public-private partnership with major PSUs of the power ministry as promoters. It undertakes trading activities that include long-term trading of power generated from large power projects as well as short-term trading. The CMD further said, "that innovation has been our driving force. We leverage advanced data analytics to optimize operations and offer the best solutions". The compa

PTC India shareholders approve appointment of Rajib Kumar Mishra as CMD

PTC India shareholders have approved the appointment of Rajib Kumar Mishra as the company's Chairman and Managing Director with requisite majority votes. According to a regulatory filing, shareholders approved an ordinary resolution to appoint Mishra as Chairman and Managing Director (CMD) at the seventh Extra Ordinary General Meeting (EGM) held on June 28. As per the voting result, 77.71 per cent of votes were in favour of the ordinary resolution and 22.29 per cent against the proposal. Mishra has been appointed as the CMD in PTC India with effect from March 29, 2023. He was named as the Whole-time Director of the company with effect from February 24, 2020, up to February 23, 2025, or the age of 62 years -- whichever is earlier, by the members of the company at their annual general meeting (AGM) held in September 2020. Mishra, about 60 years of age, is PhD (Business Administration) from Aligarh Muslim University. He joined PTC Board on February 24, 2015, as Director (Marketing a

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PTC India Q4 net profit dips 17.67% to Rs 129 cr on higher expenses

Power trading solution provider PTC India Ltd on Saturday posted a 17.67 per cent fall in its consolidated net profit at Rs 129.34 crore during the March quarter, dragged by higher expenses. Its net profit was Rs 157.11 crore during the January March quarter of FY22, the company said in a regulatory filing. The company's total income, however, rose to Rs 3,643.02 crore from Rs 3,107.04 crore in the year-ago quarter. Expenses too grew to Rs 3,471.95 crore as against Rs 2,890.57 crore a year ago.

Market regulator issues legal notices to PTC India Financial Services

The SEBI investigation followed allegations levelled by three independent directors of PTC India Financial Services in January 2022

PTC inks pact with Brookfield Renewables to purchase 100 MW solar power

Power trading solutions provider PTC India on Tuesday said it has signed an agreement with Brookfield Renewables for purchase of 100 MW solar power on a long term basis. Brookfield Renewables is developing a 400 MW solar power project in Bikaner solar park in Rajasthan. "PTC India has executed a Memorandum of Understanding (MoU) with Brookfield Renewables for purchase of 100 MW solar power on a long-term basis," PTC India said in a release. The agreement includes an option to increase the power capacity to 200 MW at the time of project commissioning based on mutual confirmation by the two parties. PTC India will market the power to various utilities and commercial and industrial consumers. Under this arrangement, PTC India will provide Brookfield Renewables with an assured tariff and payment security. "This structure, executed with Brookfield is the first of its kind in the Indian power market... We will scale this structure and replicate it in multiple transactions going forwar