PTC India Limited – Summary of Financial Performance for Q2, FY 2005-06 / H1 FY 2005-06.
New Delhi October 24, 2005
Performance Highlights
- Income from Operations for the quarter up by 45% at Rs. 861.98 Crores.
- Profit After Tax for the quarter higher by 45% at Rs. 9.52 Crores.
- EBDIT higher by 35% at Rs.15.47 Crores.
- Trading volumes up 13% at 3,148 Million Units.
- Total Income for H1 FY 2005-06 at Rs.1307.23 Crores, higher by 20%.
- PAT for H1 FY 2005-06 up 54% at Rs.20.85 Crores.
Signs MOUs for an aggregate capacity of 15500 MW for long-term purchase of power; Sale Agreements signed for 1060 MW. Another 2400 MW in discussions.
- PTC’s 300 MW LANCO Amarkantak TPP enter construction phase after achieving financial closure and getting disbursement.
- Fuel intermediation business makes a start; completes first deal in trading of imported coal.
Reflecting on the performance, Mr. T N Thakur, Chairman and Managing Director, PTC India, said
“PTC would continue to focus on facilitating new generation capacity through entering into long-term agreements with developers. The Company will also step up its efforts to develop complementary businesses that lead towards development of a vibrant power market in the country.
The numbers for the present quarter reflect our continued leadership position in the market for short-term power. Even though the recent quarters have witnessed high volatility in this market, we have maintained our dominant position.”
Q2 FY2006 v/s Q2 FY2005
Total Income during the quarter increased by 45% to Rs.863.25 Cr. as against Rs.594.39 Cr. during the corresponding quarter of the previous year. The volumes during the quarter showed a healthy growth of 13%, increasing to 3,148 MUs as against 2,780 MUs. The Profit After Tax increased by 45% to Rs.9.52 Crores in the present quarter as against Rs.6.58 crores reported in the corresponding quarter of the previous year. The Profit before depreciation, interest and tax (PBDIT) increased by 35% to Rs. 15.47 Crores as compared to Rs 11.44 Crore. The Profit Before Tax was up by 33% to Rs. 13.99 Crores compared to Rs.10.49 Crores.
H1 FY2006 v/s H1 FY2005
Total Income during the six-month period ending September, 2005 increased by 20% to Rs.1307.23 Cr. as against Rs.1090.17 Cr. during the corresponding period of the previous year. The volumes during the period were at 4,671MUs. The Profit After Tax increased by 54% to Rs.20.85 Crores in the period as against Rs.13.54 Cr. The Profit before depreciation, interest and tax (PBDIT) increased by 32% to Rs. 30.33 Crores as compared to Rs 22.93 Crores. The Profit Before Tax was up 32% at Rs. 27.90 Crores as against Rs.21.12 Crores.
Other Highlights
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 for onsale 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 MWs are under discussion.
PTC’s advisory services, which made a modest beginning during the previous year with a revenue continued to gain momentum. A start was also made by the Company in the fuel intermediation with the successful conclusion of its first transaction for import of coal.
About PTC
PTC India Ltd. (formerly known as Power Trading Corporation of India Ltd.) is a pioneer in starting a power market in India. The company was born out of the need for an institution, which would provide credit risk mitigation to private power project developers and providing best value to both the buyers and sellers while ensuring optimum utilization of resources.
The trading activities undertaken by PTC include long term trading of power generated from large power projects as well as short term trading arising as a result of supply and demand mismatches, which inevitably arise in various regions of the country. PTC is a professionally managed company with a diversified board of directors including eminent people as independent directors. PTC adheres to its core values of transparency and customer needs focus.
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