PTC India reports robust growth in power trading volumes and profitability for FY24

PTC India Limited, a leading provider of power trading solutions in India, has announced a noteworthy increase in its financial and operational performance for the fiscal year ending March 31, 2024. The company recorded a significant 10% increase in total trading volumes for the fourth quarter, reaching 18.02 billion units (BUs) compared to 16.39 BUs in the corresponding quarter of the previous year.

Financial Highlights of FY24

PTC India Limited’s consolidated profit after tax (PAT) for FY24 stood at INR 533.16 crores, marking an increase from INR 507.15 crores in FY23. This growth is attributed to a strategic expansion in market segments and an improved core margin in electricity trading, which rose to 3.36 Paisa/unit in FY24. The company’s earnings per share (EPS) also saw an upward trend, increasing to INR 16.11 in FY24 from INR 15.05 in FY23.

The standalone financial performance was equally strong, with the core margin for Q4FY24 showing an 11% increase, reaching INR 52.96 crores up from INR 47.73 crores in Q4FY23. Standalone PAT for FY24 was slightly below the previous year at INR 368.98 crores compared to INR 369.74 crores in FY23.

PTC India Limited reports impressive FY24 results, showcasing significant growth in power trading volumes and profitability.

Strategic Growth and Market Segmentation

Dr. Rajib K. Mishra, Chairman & Managing Director of PTC India Ltd., highlighted the company’s performance: “We are pleased to announce the financial results for Q4FY24 & FY24, both on a standalone and consolidated basis. The Board of Directors has recommended a dividend of INR 7.80 per equity share for FY24, reiterating the confidence in PTC’s business model and prospects of the business in the future.”

PTC India maintained a balanced presence across all segments of the Indian power market, with Short-Term (ST) and Power Exchange (PX) volumes contributing 57% and Long-Term/Medium-Term (LT/MT) volumes accounting for 43% of the overall volumes. This diversification underscores PTC’s pivotal role in enhancing the stability and efficiency of India’s power market.

Strategic Implications

PTC India Limited’s robust performance in FY24 reflects its strategic foresight in capitalizing on market opportunities and enhancing its trading capabilities. By focusing on core margin improvement and expanding its footprint across various market segments, PTC continues to solidify its position as a major force in the power trading sector, driving value for stakeholders and supporting sustainable growth in the energy market.

PTC India Limited’s impressive financial results for FY24 highlight its continued commitment to excellence and innovation in the power trading industry, promising continued growth and leadership in the sector.