Business Daily from THE HINDU group of publications
Wednesday, Nov 01, 2006
ePaper
Business Daily from THE HINDU group of publications Wednesday, Nov 01, 2006 ePaper |
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Corporate Results
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Power PTC Q2 net dips 9 pc Our Bureau
New Delhi , Oct. 31 PTC India Ltd has reported a dip in profit after tax by 9 per cent to Rs 8.65 crore (Rs 9.52 crore) in the second quarter. The total income during the quarter was up 53 per cent at Rs 1,318.54 crore (Rs 863.25 crore). For the first half of the fiscal, total income was up 81 per cent at Rs 2,368.52 crore. Reflecting on the performance, Mr T.N. Thakur, Chairman and Managing Director, said, "We have had a significant quarter's performance on the back of healthy trading volumes as well as major milestones achieved in closing long-term agreements with project developers. There has been a drop in the operating margins due to capping of the trading margin for short-term trades by the regulator, which is before the higher appellate court." Earlier in the year, at PTC's seventh annual general meeting, the company's shareholders passed a resolution clearing the formation of a subsidiary company in the nature of an investment company for PTC's equity investments in power projects. The company is now in the process of setting up this special purpose vehicle.
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