PTC India Delivers Strong Core Q3 Performance: ICICI Securities
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ICICI Securities Report
41.4% YoY increase in trading volumes in Q3 FY21 (from 13.2 British units to 18.6BUs) and 17.1% increase in trading margins YoY (from 3.77 power/kilowatt-hour to 4.41p/kWh) resulted in 93.5% YoY increase in PTC India Ltd.’s profit after tax to Rs 1.1 billion.
The increase in volumes is primarily attributed to 102% jump in short term volumes to 10,551 million units, while medium and long term volumes increased by 2% to 8,046 million units.
While the overall working capital deployment increased slightly from FY20-end levels to Rs 26 billion at Q3 FY21-end, rebate/surcharge during the quarter was up 23.2%/50.8% YoY at Rs 307 million/Rs 651 million respectively.
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