19834 Investors following PTC India. Share this News with them.
0
Like this story, share it with millions of investors on M3
PTC India Q3 PAT drops 75% to Rs 9 cr on high interest cost
PTC India has reported a profit after tax of Rs 9 crore in the third quarter of FY12, a massive fall of 75% as compared to Rs 38 crore in a year ago quarter due to fall in other income and increase in interest cost.
PTC India has reported a profit after tax of Rs 9 crore in the third quarter of FY12, a massive fall of 75% as compared to Rs 38 crore in a year ago quarter due to fall in other income and increase in interest cost.
Other income declined 73% to Rs 4 crore while interest expenses increased 12 times to Rs 10 crore year-on-year.
Total income was down by 24% to Rs 1,330 crore from Rs 1,758 crore. EBITDA too fell 49% to Rs 21 crore from Rs 41 crore YoY.
Expenditure slipped 24% to Rs 1,310 crore versus Rs 1,718 crore during the same period. Operating profit margin dropped at 1.58% versus 2.34% year-on-year.
Decline in trading volumes possibly impacting top line growth
* Traded volumes impacted due to delayed payments from SEBs as a result of which PTC has stopped supplying power to some states
* Rising competitive intensity in India's power trading market will impact average trading margins
* Further, higher receivables possibly were bringing down profitability
