PTC India is creating newer offerings for the renewable energy market along with taking market and credit risks, CMD Dr. Rajib K Mishra said.
NEW DELHI, Dec 8 (The CONNECT) – Power trading solutions major PTC India Limited has withstood the volatile market prevailing during the the first two quarters of the current fiscal though the trading volume has taken a dent at 39,042 MU compared to 51,072 MU in H2FY2.
The impact was due to high tariffs in short term power markets and supply side constraints on back of high prices of imported and e- auction coal, company CMD Dr. Rajib K Mishra said.
PTC’s robust business model allowed it to explore newer models especially in the renewable energy aggregation space, he said.
“We are creating newer offerings for the renewable energy market along with taking market and credit risks by using our domain knowledge,” he disclosed. With the country planning to meet its target of 500 GW installed RE capacities by 2030, PTC looks forward to play a major role in introducing new renewable energy products for the regional power markets and being a proactive player in this exciting journey of Energy Transition, Dr Mishra explained.
Meanwhile, PTC reported that its consolidated Profit After Tax (PAT) in H1FY23 was INR 273.33 Crores compared to INR 331.65 Crores in H1FY22. The Consolidated Profit Before Tax (PBT) in H1FY23 was INR 367.50 Crores for H1FY23 compared to INR 444.44 Crores in H1FY22.