PTC India Limited, the pioneer in Power Trading in India, today announced its results for Q1 ending 30th June 2008.

Reflecting on the performance, Mr. T N Thakur, Chairman and Managing Director, PTC India, said “We are glad to realize that PTC has maintained its leadership and growth owing to the focus on long term initiatives. The figures attained in present quarter reflect the importance of having sound knowledge and skill based business models in sustaining our leadership position in the market. In a highly volatile market, we have maintained our dominant position and provided stability to our customers’ both short-term and long-term power planning needs.”

Q1 FY2008 – 09 v/s Q1 FY 2007 – 08

The Profit After Tax increased by 59% to Rs.1884.95 lakhs in the present quarter as against Rs.1187.57 lakhs reported in the corresponding quarter of the previous year. Total Income during the quarter increased by 5.35% to Rs.122067.51 lakhs as against Rs.116821.97 lakhs during the corresponding quarter of the previous year. The volumes during the quarter depicted a growth of 8%, touching 2687MUs as against 2481 MUs. The Profit before depreciation, interest and tax (PBDIT) went up by 56% to Rs. 2345.14 lakhs as compared to Rs 1502.74 lakhs. The Profit Before Tax was also showed an increment of 46% to Rs. 2108.29 lakhs as compared to Rs.1439.27.

Other Highlights

By the end of the quarter, PTC has entered into long-term MOUs for a total of 32000 MWs, and detailed Power Purchase Agreements have been signed for about 9055 MWs.

Agreements for sale of these projects’ capacity on a long-term basis, in the form of MOUs / PSAs have been signed for a total of about 5340 MWs. Projects aggregating to a capacity of another 20000 MWs are under discussion.

PTC’s advisory services and fuel intermediation businesses also continued to gain momentum.

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