PTC Profit drooped by 32.7%

NEW DELHI: PTC India has reported 32.7% drop in net profit for the third quarter ending December. Profit after tax dropped to Rs 8.6 crore as against Rs 12.79 crore in the corresponding period last year. Total income during the quarter decreased by 23% to Rs 811.8 crore compared to Rs 1,056.54 crore during Q3���06.

For the nine months ending December, PTC India reported 13% decline in net profit which stood at Rs 29.3 crore. Total income during the 9-month period, however, increased by 34% to Rs 3,180.32 crore as against Rs 2,363.76 crore during the corresponding period of the previous year.

Speaking on the results PTC India, chairman and managing director T N Thakur, said, "The numbers for the present quarter reflect the uncertain situation in the market for short-term traded power due to regulatory actions as well as participant entity behaviour. Even in this volatile situation, we have maintained our dominant position and provided predictability to our customers for their power planning needs."