PTC India quarterly profit slumps to Rs 30 crore

NEW DELHI: Power trading solutions provider PTC India's net profit has fallen by 8 per cent to Rs 30.05 crore in the quarter ended March 31, 2012.

The company had a net profit of Rs 32.81 crore in the year-ago period.

In the 2012 March quarter, PTC's total income declined to Rs 1,443.76 crore from Rs 2,012.81 crore in the year-ago period, it said in a filing to the BSE.

PTC reported a 13 per cent fall in net profit at Rs 120.37 crore in the full year ended March. In the comparable period, the same stood at Rs 138.52 crore.

In 2011-12 period, the total income dropped to Rs 7,650.27 crore from Rs 8,998.59 crore in the same period a year ago.

All the above figures are on standalone basis. However, on a consolidated basis, the company's net profit soared nearly 47 per cent to Rs 259.42 crore in the year ended March 2012. In the year-ago period, the net profit was Rs 176.77 crore.

Consolidated total income in the last fiscal fell to Rs 8,058.53 crore from Rs 9,200.43 crore in 2010-11 period.

PTC board has recommended a dividend of Rs 1.50 per equity share, having value of Rs 10 each.

"During the year (2011-12), the group had disinvested its equity stake in two companies -- Ind-Bharath Power Gencom Ltd and Indian Energy Exchange resulting in a profit of Rs 127.24 crore," the filing said.