PTC India Q4 Review - Core Business Remains Strong: ICICI Securities
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PTC India Q4 Review - Core Business Remains Strong: 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

Trading volumes increased by 35.6% YoY in Q4 FY21 to 16.3 billion unit resulting in 92.6% YoY increase in PTC India Ltd.’s adjusted profit after tax (adjusted for provisions of Rs 0.6 billion) to Rs 1.2 billion.

The increase in volumes is primarily attributed to 88% jump in short-term volumes to 9.2 billion unit, while medium and long-term volumes were flat at 7.1 billion unit.

However, trading margins shrunk 22% to 3.3p/kilowatt due to two factors:

  1. higher short-term transactions, and

  2. withdrawal of one-off gains from Bangladesh cross-border trades booked in prior quarters.

Higher late payment surcharge from discoms resulted in 151% YoY increase in surcharge to Rs 1.1 billion, although rebates were 15% lower YoY at Rs 260 million.

Click on the attachment to read the full report:

ICICI Securities PTC India Q4FY21 Results.pdf

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