PTC India Q1 Review - Medium-Term Volumes To Pick Up Soon: ICICI Securities

Electrical power lines and pylons stand near the power plant. (Photographer: Nathan Laine/Bloomberg)

PTC India Q1 Review - Medium-Term Volumes To Pick Up Soon: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

PTC India Ltd.’s 21% YoY increase in trading volumes in Q1 FY22 at 22.9 billion units resulted in 13.6% YoY increase in its reported profit after tax to Rs 769 million.

The increase in volumes is primarily attributed to 47% jump in short-term volumes to 13.1 billion units despite challenges due to lockdown.

However, medium and long term volumes declined 2% to 9.8 billion units.

Trading margin (excluding-rebate and surcharge) declined 33% to 2.9p/kilowatt due to higher short-term transactions on demand uncertainty and seasonal variations.

PTC India is in the final stages of signing power purchase agreement/power sale agreement for 1,070 megawatt out of 2,500 megawatt pilot-II three-year tender.

Click on the attachment to read the full report:

ICICI Securities PTC India Q1FY22 Results Update.pdf

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