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PTC India Q3 net profit down by 13pct

Power News - Published on Mon, 11 Feb 2019

Image Source: Livemint
PTC India reported a standalone net profit of INR 51.34 crore for the quarter ended December 2018, down about 13 per cent year-on-year mainly due to higher expenses. The company's standalone net profit stood at INR 58.94 crore for the quarter ended December 2017. Total income rose to INR 2,935.23 crore in the October-December quarter this year from INR 2,717.46 crore in the year-ago period. Its expenses rose to INR 2,855.85 crore in the third quarter of 2018-19 from INR 2,630.49 crore in the year-ago quarter.

Commenting on the results, PTC India Chairman and Managing Director Mr Deepak Amitabh said that "The financial and operational numbers for the nine month period have been consistent with our business trends. Our business is increasingly insulated from the volatility of the short term market."

He added that "Going forward, we believe that the market is moving towards a new equilibrium of creating a strong medium term market with an increased role of an aggregator in the system.”

Source :

Posted By : Rabi Wangkhem on Mon, 11 Feb 2019
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