PTC India (formerly Power Trading Corporation of India) reported 1% growth in standalone sales for the quarter ended Dec 2020 to Rs 3483.72 crore driven by strong 39% growth in volume. But with operating profit margin expand by 200 bps to 4.6%, the operating profit was up by 75% to Rs 158.81 crore. The PBT was before EO was up by 93% to Rs 151.71 crore after accounting for lower other income, lower interest and lower depreciation. EO for the period was nil against an expense of Rs 0.12 crore in the corresponding previous period. Thus the PBT was up by 93% to Rs 151.71 crore. The taxation was up by 90% to Rs 38.70 crore and thus PAT was up by 94% to Rs 113.01 crore.
- Revenue from operations (excluding other operating income) was down by 1% to Rs 3384.58 crore. However the volume traded was up by 39% to 18597 million units which was offset by 29% fall in average per unit realization.
- Other operating income jumped up by 93% to Rs 99.14 crore as the surcharge and rebate stand higher by 51% to Rs 65.06 crore and 23% to Rs 30.70 crore respectively.
- Strong expansion is OPM was largely due to sharp fall in cost of electricity which as % of revenue was down by 250 bps to 93.9%. While the other operating exp was up by 70 bps that of other expense was down by 20 bps.
Consolidated revenue was down by 1% to Rs 3793.51 crore and with OPM contract by marginal 10 bps to 10.7%, the OP was down by 2% to Rs 406.68 crore. After accounting for lower OI, lower interest and depreciation, the PBT was up by 41% to Rs 158.20 crore. After accounting for 17% higher share of profit from associate to Rs 0.14 crore and lower taxation down 9% to Rs 44.19 crore, the PAT was up by 80% to Rs 114.15 crore. Eventually the net profit after MI jumped up by 121% to Rs 106.85 crore as the MI was down by 52% to RS 7.30 crore.
Half Yearly performance
Standalone sales was up by 2% to Rs 9886.88 crore. With OPM expand by 50 bps to 3%, the growth at operating profit was up by 21% to Rs 295.11 crore. The PBT was up by 19% to Rs 307.69 crore gained largely by lower interest and depreciation cost. With EO expense double to Rs 0.02 crore, the PBT after EO was up by 19% to Rs 307.67 crore. The taxation was higher by 23% to Rs 73.81 crore and thus the PAT was up by 18% to Rs 233.86 crore.
Consolidated sales was flat at Rs 14428.92 crore and with OPM down by 80 bps to 9.2%, the OP was down by 8% to Rs 1328.09 crore. Eventually the net profit after MI was up by 18% to Rs 380.10 crore. |