Summary of Financial Performance for Q3 FY23
· Consolidated Profit After Tax (PAT) increases to INR 104.48 Crores for Q3FY23 compared to INR 62.91 Crores in Q3 FY22, an increase of 66 %
· Consolidated Profit Before Tax (PBT) increased to INR 141.82 Crores for Q3FY23 compared to INR 84.42 Crores in Q3FY22, an increase of 68%
· The core operating margin on standalone basis realized during Q3 FY 23 is INR 48.02 Crores against INR 48.81 Crores in Q3 FY 22
· The traded volume was 15,530 MUs in Q3FY23 compared to 19,483 MUs in Q3FY22, the decline is primarily on account of decrease of around ~ 3.72 BUs in low margin power exchanges traded volumes
Summary of Financial Performance for 9M FY23
· Consolidated Profit After Tax (PAT) decreased to INR 377.81 Crores for 9MFY23 compared to
INR 394.56 Crores in 9MFY22, a decrease of 4%
· Consolidated Profit Before Tax (PBT) decreased to INR 509.32 Crores for 9MFY23 compared to INR 528.86 Crores in 9MFY22, a decrease of 4%
· The EPS of the company decreased to INR 11.11 in 9MFY23 compared INR 12.09 for 9MFY22, a decrease of 8%
Management comment:
Commenting on the results, Dr. Rajib K Mishra, CMD (Addl-charge), PTC India Ltd., said
“We are pleased to declare the standalone and consolidated financial Results for Q3 & 9M FY23. It is also pertinent to note that the auditor qualification present in PTC India’s standalone Q2FY23 results have been removed. The quarter marked the initiation of a recovery phase for the bilateral electricity trading segment which was impacted during H1FY23 by heightened volatility in the short-term electricity prices, elevated fuel prices and a rapid increase in peak demand.
During the quarter, the company’s business strategy focused more on the core margins than on the volumes. The per unit core margin realized during Q3FY23 improved to 3.09 paise/unit compared to 2.51 paise/unit in Q3FY22 indicating a marked improvement in operational efficiencies, tighter working capital management as well as a focused strategy to undertake value accretive transactions. The liquidity position of the state utilities as well as PTC’s outstanding from such utilities show a marked improvement vis-à-vis the comparable quarter on YoY basis.
The subsidiary companies continued to perform well during the quarter reiterating the overall strength and robustness of the business model of the PTC Group. The PTC sponsored exchange is also demonstrating traction in business volumes with a traded volume of 35-40 MUs / day in last couple of days.”
