New Delhi: PTC India Limited, the leading provider of power trading solutions in India, has announced its consolidated financial results for the full year ended 31 March, 2022.
Summary of Financial Performance for FY22
- The Board of Directors has recommended a final dividend of INR 5.80 per equity share for
FY22, subject to the approval of the shareholders in AGM. The total dividend for FY22 will be therefore INR 7.80per equity share (including INR 2 / share interim dividend paid earlier) which amounts to 78% of face value of INR 10 per share
- Consolidated Profit After Tax(PAT) increased to INR 552 Crores for the FY22 compared to
INR 458 Crores in FY21, an increase of 21%
- Consolidated Profit Before Tax (PBT) increased to INR745 Crores for the FY22 compared to INR 679 Crores in FY21, an increase of 10%
- The EPS of the company increased to INR 17.10 in FY22 compared INR 15.16 in FY21, an increase of 13%
Commenting on the results, Dr. Rajib K Mishra,Director(M&BD)&CMD In-charge,PTC IndiaLtd.,said “We are pleased to declare the consolidated Annual Results for FY22. Our consolidated profits for the year grew by 21%. This increase inconsolidated profits was buoyed by the turnaround in the performance of our subsidiary companies. The strong performance reiterates the overall strength and robustness of the business model of the PTC Group.
Since having an early mover advantage, PTC has long stood for constant innovation and improvement. We are committed to introduce next generation power market products keeping in sync with the country’s philosophy of sustainable growth through Renewable Energy sources and digital transformation.”
PTC India Ltd., a Government of India initiative, is the pioneer in starting a power market in India. The Company has maintained its leadership position in power trading since inception. PTC has also been mandated by the Government of India to trade electricity with Bhutan, Nepal and Bangladesh.
The trading activities undertaken by PTC include long term trading of power generated from large power projects including renewables as well as short term trading arising as a result of supply and demand mismatches,which inevitably occur in various regions of the country.
TheCompanyiscreditedwithanumberofproductsintheelectricitytradingmarkettomeetthedivergentneeds of the customers. Driven by the vision of shaping a vibrant power market, PTC has been providing value-added services to its clients and built trust as a reliable partner. The electricity traded from cross border resources is a significant component of the total electricity traded by the Company.
PTC is a unique example of a successful public-private partnership with major PSUs of the Ministry of Power,GovernmentofIndiaaspromotersandawidelyheldownershipinterest.ThediversecompositionofitsBoardofDirectors includes eminent peopleas independent directors.