PTC Q4 net zooms by 231 per cent

New Delhi, May 5: Power trading firm PTC India Ltd has posted a whopping 231 per cent jump in its net profit at Rs 19.22 crore for the fourth quarter of FY08 as against Rs 5.80 crore during the same period previous fiscal.

However, the total income during the quarter stood at Rs 565.95 crore, lower by 6.52 per cent from Rs 605.40 crore in the corresponding quarter of the previous year. For the FY08, the net profit jumped 39 per cent to Rs 48.70 crore from Rs 35.09 crore in the last financial year. Total income zoomed 4.31 per cent to Rs 3,949.02 crore.

The Board has recommended a dividend at 10 per cent on 22,74,19,000 fully paid-up Equity Shares of Rs 10 each, company said in a statement.

Trading volume stood at 1,445 million units (MU) for the quarter, while the same was at 9,889 MU for FY08.

The company, formerly Power Trading Corporation of India Ltd, picked up 11 per cent equity in 1,200 MW Teesta Urja project in Sikkim, beside venturing into wind energy generation, It has signed an MoU with IREDA and PFSL for development of renewable energy projects.

UNI