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ICICI Securities Report
PTC India Ltd.'s 21% YoY increase in trading volumes in Q1 FY22 at 22.9 billion units resulted in 13.6% YoY increase in its reported profit after tax to Rs 769 million.
The increase in volumes is primarily attributed to 47% jump in short-term volumes to 13.1 billion units despite challenges due to lockdown.
However, medium and long term volumes declined 2% to 9.8 billion units.
Trading margin (excluding-rebate and surcharge) declined 33% to 2.9p/kilowatt due to higher short-term transactions on demand uncertainty and seasonal variations.
PTC India is in the final stages of signing power purchase agreement/power sale agreement for 1,070 megawatt out of 2,500 megawatt pilot-II three-year tender.
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