PTC INDIA LTD
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BSE Code:
532524
NSE Code:
PTC
Business Profile
Business Profile
PTC India, formerly known as Power Trading Corporation of India is a Government of India initiated public-private partnership with major PSUs as promoters and a wide ownership interest. The company`s principal activity is to provide power-trading services through purchases from surplus utilities and sales to deficit ones. The company`s services also include streamlining transaction management, making optimal operational decisions and managing complex risk scenarios.
In 2006, the company started coal intermediation services in addition to other advisory services for the power sector. PTC today enjoys more than 70% of the market share of power trading in India. In 2005-06, PTC entered into long-term power purchase/sale agreements for five projects totaling a capacity of 4000 MW. The company has also signed MoUs for another 16 projects totaling a capacity of 10,400 MW. The Lanco Amarkantak project in Chhattisgarh, where PTC had previously picked up 11% stake, has achieved financial closure and entered the construction phase.
The company has contracted to purchase close to 10 times the volume of its present operations. The bulk of these plants are scheduled to start operations from the year 2008-09. Under these tie-ups, the company gets right to market electricity produced by the generators for period upto 25 years. It has zero debt levels rendering it financially flexible, and has paid dividends for five consecutive years.
Financials
The company reported a phenomenal rise in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company rose 3.82 times to Rs 236.96 million from Rs 62.10 million in the same quarter previous year. Net sales for the quarter rose 2.88 times to Rs 21,168.42 million, while total income for the quarter jumped 2.90 times to Rs 21,478.01 million, when compared with the prior year period. It posted earnings of Rs 1.04 a share during the quarter, registering 2.54 times growth over prior year period.