PTC India's profit after tax up over 3-fold

Power Company PTC India Ltd has reported over three-fold increase in profit after tax to Rs 19.2 crore for the quarter ended March 31, 2008 compared to Rs 5.8 crore in the corresponding period a year ago. The company has reported a 39% increase in profit after tax for whole fiscal at Rs 48.7 crore against Rs 35.1 crore in the previous fiscal. However total income of the company during the quarter under review dipped 6.5% to Rs 566.0 crore from Rs 605.4 crore in the corresponding period of 2006-07. PTC's income for 2007-08 stood at Rs 3,949.0 crore, registering a growth of 4.31 per cent over the last fiscal.

The company has made its foray into wind energy generation by commissioning its first 6mw wind farm project in Maharashtra. During the January-March quarter, PTC raised Rs 1,200 crore through the QIP route and would use the proceeds for enhancing capital adequacy, capitalisation of PTC Financial Services and investment in fuel intermediation. During the quarter, PTC signed two MoUs for sale of power aggregating to 325 MW.