PTC India

Sales up 47%, net up 2%

Aug 17, 2019 06:08 IST capital market

PTC India (formerly Power Trading Corporation of India) reported 47% growth in standalone sales for the quarter ended June 2019 to Rs 4973.29 crore. However with OPM contract by 70 bps, the growth at operating profit was restricted at 8% to Rs 101.99 crore. After accounting for lower other income (down 89% to Rs 3.47 crore) the PBIDT was down by 16% to Rs 105.46 crore. But with interest cost stand lower by 72% to Rs 8.70 crore, the PBDT was up by 2% to Rs 96.76 crore. With depreciation stand lower by 3% to Rs 0.64 crore, the PBT was up by 2% to Rs 96.12 crore. After accounting for higher taxation (up 1% to Rs 33.35 crore), the PAT was eventually up by 2% to Rs 62.77 crore.
  • OPM was down by 70 bps to 2.1% and that is largely due to higher cost of energy purchased. The cost of energy purchase as % of sales was higher by 220 bps to 97.5%. But the other operating expense was down by 140 bps to 0%. The staff cost was down by 10 bps to 0.2% and the other expense stayed flat at 0.3%. Thus hit by lower OPM, the growth at operating profit was restricted at 8% to Rs 101.99 crore.
  • Other income was down by 89% to Rs 3.47 crore. The interest cost was down by 72% to Rs 8.70 crore. The depreciation was lower by 3% to Rs 0.64 crore. Thus the PBT was up by 2% to Rs 96.12 crore. The taxation was higher by 1% to RS 33.35 crore and thus the PAT was up by 2% to Rs 62.77 crore.

Consolidated sale for the quarter was up by 43% to Rs 5411.44 crore. With OPM contract by 350 bps to 8.6%, the operating profit was up by 1% to Rs 464.42 crore. After accounting for lower other income (down by 92% to Rs 3.55 crore), higher interest cost (up by 7% to Rs 303.02 crore) and higher depreciation (up by 4% to Rs 25.03 crore) the PBT was down by 28% to Rs 139.92 crore. Taxation was down by 32% to RS 46.35 crore and thus the PAT was down by 27% to Rs 93.57 crore. After accounting for share of profit from associate (a loss of RS 0.31 crore against nil) and a minority interest of Rs 5.48 crore (down 72%) the net profit attributable to owners was down by 19% to Rs 87.78 crore.

PTC India: Result

 

Particulars 1906 (3) 1806 (3) Var. (%) 1903 (12) 1803 (12) Var. (%)
Net sales 4973.29 3387.05 47 13495.65 11315.38 19
OPM(%) 2.1 2.8 3.1 3.2
OP 101.99 94.51 8 411.87 361.77 14
OI 3.47 31.71 -89 131.64 203.11 -35
PBIDT 105.46 126.22 -16 543.51 564.88 -4
Interest 8.70 31.09 -72 143.03 117.28 22
PBDT 96.76 95.13 2 400.48 447.60 -11
Depreciation 0.64 0.66 -3 3.03 2.85 6
PBT before EO 96.12 94.47 2 397.45 444.75 -11
EO Income 0.00 0.00 0.03 0.02 50
PBT 96.12 94.47 2 397.48 444.77 -11
Tax 33.35 33.03 1 135.16 125.57 8
PAT 62.77 61.44 2 262.32 319.20 -18
EPS(Rs)* # # 8.9 10.8
*EPS on current equity of Rs 296.0083 crore; Face Value of Rs 10
Figures in Rs crore
# business being seasonal EPS is not annualised
Source: Capitaline Corporate Databases

PTC India: Consolidated Result

 

Particulars 1906 (3) 1806 (3) Var. (%) 1903 (12) 1803 (12) Var. (%)
Net sales 5411.44 3778.37 43 15144.59 12765.74 19
OPM(%) 8.6 12.1 12.8 9.0
OP 464.42 458.09 1 1940.57 1151.46 69
OI 3.55 44.38 -92 140.66 147.38 -5
PBIDT 467.97 502.47 -7 2081.23 1298.84 60
Interest 303.02 283.20 7 1239.95 943.77 31
PBDT 164.95 219.27 -25 841.28 355.07 137
Depreciation 25.03 24.18 4 97.08 97.44 0
PBT before EO 139.92 195.09 -28 744.20 257.63 189
EO Income 0.00 0.00 0.03 0.02 50
PBT 139.92 195.09 -28 744.23 257.65 189
Tax 46.35 67.77 -32 254.48 92.80 174
PAT 93.57 127.32 -27 489.75 164.85 197
Share of profit in Associates -0.31 0.00 0.00 0.00 #DIV/0!
Minority Interest 5.48 19.58 -72 64.47 -35.10 -284
Net profit 87.78 107.74 -19 425.28 199.95 113
EPS(Rs)* 3.0 3.6 14.4 6.8
*EPS on current equity of Rs 296.0083 crore; Face Value of Rs 10
Figures in Rs crore
# business being seasonal EPS is not annualised
Source: Capitaline Corporate Databases

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