Shares of this company were locked at upper circuit post 5x jump in net profit
The company provides integrated energy services including power trading, renewable energy, advisory services and investment services primarily through its subsidiaries.
On Monday, shares of PTC India got locked at 5 per cent upper circuit at Rs 91.90.
On January 06, 2023, the company released their Q3FY23 results, wherein, total income declined 19 per cent from last year’s same quarter, to Rs 194.32 crore. The net profitability of the firm shot up by more than 420 per cent from corresponding quarter last year to Rs 36.17 crore.
PTC India Limited was established in 1999 by the Government of India as a Public-Private Initiative and is in the power trading business. It is promoted by Power Grid Corporation of India Limited (PGCIL), NTPC Limited (NTPC), Power Finance Corporation Limited (PFC) and NHPC Limited (NHPC).
The company provides integrated energy services including power trading, renewable energy, advisory services and investment services primarily through its subsidiaries. The company’s revenue in the ‘power’ segment comes from three major customers which accumulates to more than 40 per cent.
The company has two subsidiaries PTC India Financial Services Limited(PFSL) and PTC Energy Limited (PEL). PFSL is an Infrastructure Finance Company with a diversified portfolio in the Energy business. PEL has total wind assets of 288.8 MW in Madhya Pradesh, Karnataka and Andhra Pradesh.
In the last 6 months, the stock has surged more than 10 per cent. Keep a close eye on this trending stock.