PTC Ltd Q1 net up by 58.7% at Rs 11.87 cr

New Delhi, Jul 27 (UNI) PTC India Limited, the pioneer in Power Trading in the country today said its net profit surged by 58.7 per cent to Rs 18.84 crore for Q1 FY09 as against Rs 11.87 crore in the corresponding quarter of last fiscal.

The company's total income also increased by 4.49 per cent to Rs 1220.67 crore for the quarter June 30, 2008 as against Rs 1168.21 crore during the corresponding quarter of the previous year.

''The figures attained in present quarter reflect the importance of having sound knowledge and skill based business models in sustaining our leadership position in the market,'' PTC India, Chairman and Managing Director, T N Thakur said.

The volumes during the quarter depicted a growth of 8 per cent, touching 2687MUs as against 2481 MUs.

By the end of the quarter, PTC entered into long-term MOUs for a total of 32,000 MWs, and detailed Power Purchase Agreements have been signed for about 9,055 MWs, Mr Thakur added.

Agreements for sale of these projects' capacity on a long-term basis, in the form of MOUs / PSAs have been signed for a total of about 5,340 MWs. Projects aggregating to a capacity of another 20,000 MWs are under discussion, he added.

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