Total income from operations up by 5% to Rs. 71.77 crore as against Rs. 68.11 crore in Q1FY15
Financial performance
Q1 FY 16 vs.Q1 FY15 (STANDALONE)
Total income from operations up by 5% to Rs. 71.77 crore as against Rs. 68.11 crore in Q1FY15
PBT up by 7% for the period stands at Rs. 70.18 crore as compared to Rs. 65.81crores in Q1FY15.
PAT up by 10%for the quarter ended 30th June, 2015, stands at Rs. 47.93 crore, as compared to Rs. 43.74 crore in Q1FY15
The operating margin was up by 4% to Rs. 58.78 crore as against Rs. 56.54Crore in Q1FY15
The traded volume was 10,265 MU in Q1FY16,marginally lower than 10,309 MUs in Q1FY15
The average margin (net of rebate, surcharge and tolling converted PPAs ) realized was 0.049 Paisa / unit compared to 0.042 paisa / unit in Q1FY15; an increase of 15%.
MANAGEMENT QUOTE
Commenting on the results, Mr. Deepak Amitabh, Chairman & Managing Director, PTC India Ltd said
“The company reported flat volumes in the Quarter, which were primarily a result of suppressed demand from the Discoms. The company however, continued to consolidate its long term business with 3,838 MUs being traded under in the Long term trading business segment during the quarter, registering a growth of 12% over the corresponding quarter of the previous year, and thereby improving the net margin realizations.
The present set of constraints in the market for short-term trades in electricity has led to subdued growth. We believe that, going forward, increasingly stakeholders will look out for solutions from the medium term market to contain the uncertainty in tie-ups of volume and price discovery in the market for short term trades in power.”
Operational developments
The company increased its presence in the portfolio management business for the Utilities segment, as it executed an agreement with Jharkhand Bijli Vitran Nigam Limited for managing its power portfolio. The agreement mandates PTC for sale / purchase of power for the Jharkhand based utility under bilateral, power exchanges and banking arrangements.
Further, Rajasthan Electricity Regulatory Commission (RERC) has passed order approving the procurement of 500 MW power by Rajasthan Discoms through PTC, sourced from two coal-based thermal power projects on long-term basis. The power flows under the said agreements are expected to start in FY17.
The company has been granted funds from The Prosperity Fund by the British High Commission on behalf of Government of United Kingdom for preparing the Indian power market for carriage and content separation through collaboration with the UK. PTC will be working in close association with key stakeholders in implementing business of supply licensee (introduced in draft Amendment to Electricity Act 2003) in India. Regulatory provisions envisaged for increasing competition in power supply business are expected to open more avenues for the business of electricity traders like PTC.
The company will remain focused on increasing its presence in multiple business segments like long term, medium term and short term sales to utilities as well as to the non-utility (Retail) segment.
The company has already tied-up more than 11,000 MW generation capacity on long term basis, and is actively converting this into power-sale agreements for medium and long-term. The company has already executed Long Term Power Sale Agreement of more than 7500 MW (including for Cross Border sales)
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