New Delhi: Power trading solutions provider PTC India has reported a 66% increase in consolidated net profit at ₹104.48 crore for the December quarter 2022-23.
In the year-ago period, the company had registered a profit of ₹62.91 crore, the company said in a BSE filing.
Total income declined to ₹3,146.91 crore in the quarter from ₹3,338.40 crore in the same period a year ago.
According to the company, the consolidated profit before tax (PBT) increased to ₹141.82 crore for Q3FY23 as compared to ₹84.42 crore in Q3FY22.
"Core operating margin on a standalone basis in Q3FY22 stood at Rs 48.02 crore as against Rs 48.81 crore in Q3FY22," the company said.
The business volume in Q3 FY2023 was 15,530 MUs as against 19,483 MUs in Q3 FY2022.
Commenting on the results, Rajeev K Mishra, CMD (Additional Charge), PTC India Ltd. said, “We are pleased to announce the standalone and consolidated financial results for Q3 and Q9 FY2023. During the quarter, the company's business strategy focused more on core margin than volume. Core margin per unit achieved during Q3FY23 improved to 3.09 paise/unit as against 2.51 paise/unit in Q3FY22, driven by significant improvement in operating efficiencies, strict working capital management as well as a focused strategy to undertake value addition transactions indicates."
“The subsidiaries continued to perform well during the quarter, reiterating the overall strength and robustness of the PTC Group business model. PTC sponsored exchange is also demonstrating traction in trading volumes with trading volume of 35-40 MU/day in the last few days."
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