New Delhi: State-owned company PTC India Ltd on Saturday reported an 8.07% fall in its consolidated net profit for the most recent fiscal year (FY23). ₹507.15 crores.
New Delhi: State-owned company PTC India Ltd on Saturday reported an 8.07% fall in its consolidated net profit for the most recent fiscal year (FY23). ₹507.15 crores.
In fiscal 22, the company reported net income of ₹551.67 crores.
In fiscal 22, the company reported net income of ₹551.67 crores.
Subscribe to continue reading
PTC India’s operating revenue for the last fiscal year was ₹15,492.05 crore, down 4.8% from ₹Earned 16,279.25 crore in FY22.
Trading volume declined 19% to 70,610 million units (MU) in FY23 compared to 87,515 (MU) in FY22, driven by a decline of around 15.1 BUs in low-margin power exchange trading volumes. Core margin per unit for the year increased 13.5% to 3.20 paisa per unit, compared to 2.82 paisa per unit, the company said in a statement.
Commenting on the results, Rajib K. Mishra, Chief Executive Officer and Managing Director of PTC India Ltd said, “We are pleased to announce the financial results for Q4FY23 and FY23, both on an individual and consolidated basis.” suggested ₹7.8 per share for FY23, reaffirming confidence in PTC’s business model and future prospects for the business. FY23 was a year of consolidation for PTC India as strategic decisions were adopted, volumes abandoned to avoid negative impact on funding costs and the business model realigned.”
He added that as part of the business strategy, PTC India prioritized core margins over volumes throughout the year.
The company said in a statement that its subsidiaries have achieved a turnaround in operations and demonstrated profitability, resulting in PTC Group’s consolidated numbers showing significant resilience in a volatile year.
While PTC Energy Limited reported profit after tax of ₹13.88 crores for FY23, PTC India Financial Services Limited (PFS) contributed ₹175.81 crore to group profitability. Also, PFS has declared a dividend of ₹1 per share for FY23, subject to shareholder approval.
PTC India shares closed on the BSE ₹93.47 on the BSE on Friday, down 0.40% from the previous close.
