Total income during the quarter, however, fell to ₹ 4,641 crore from ₹ 5,415 crore in the year-ago period
New Delhi, August 12: PTC India, a Power trading solutions firm reported a rise of over 7% in consolidated net profit at ₹100.06 crore for the June quarter, the hike in net profit being helped by the reduced expenses in the same timeframe.
In a BSE filing, the company's net profit had stood at ₹93.26 crore in the April-June period of 2019, it said.
Total income during the quarter, however, fell to ₹4,641 crore from ₹5,415 crore in the year-ago period. Total expenses also reduced to ₹4,499 crore as compared to ₹ 5,275 crore earlier, which explains the rise in net profit.
Mr. Deepak Amitabh, the company's CMD, in a separate statement said that while the demand for traded electricity was impacted initially, he is optimistic about the fact that the gradual restoration of economic activity has seen a revival of demand to levels comparable to the corresponding period last year.
In the wake of COVID-19, he remains optimistic about the visible positive results of structural initiatives undertaken by the central government, he added.
