PTC India announced a marginal rise in standalone net profit for the quarter ended September 2015. During the quarter, the profit of the company rose 4.52% to Rs 1,006.60 million from Rs 963.10 million in the same quarter previous year.

Revenues for the quarter declined 16.41% to Rs 35,209.90 million, compared with Rs 42,122.90 million for the prior year period.

Operating margin for the quarter stood at 2.32 percent as compared to 1.96 percent for the previous year period. Operating Income for the quarter was Rs 815.90 million, compared with Rs 823.9 million in the previous year period.

Earnings per share for the quarter stood at Rs 3.40, registering 4.62% growth over previous year period.

Commenting on the results, Deepak Amitabh, chairman & MD, PTC India said, ''The company has reported a flat growth in power trading volumes due to an environment of low purchases intend from the state Discoms. We have however continued to consolidate the market in medium term, which has grown by almost 43% during the quarter.'' 

''We believe that with reopening of medium term market for Power Traders in revised policy document, the trading opportunities in the power trading market will increase in near future. The company also strengthened its position in the long term business with the commissioning of new projects,'' he further added.

Other developments:

The company started supply of 361 MW power to Uttar Pradesh Power Corporation Limited under Long Term arrangement from MB Power’s thermal power project in Annupur, Madhya Pradesh. Further,  company has been awarded a contract by DVC to sell its surplus power for FY16.

The company will remain focused on increasing its presence in multiple business segments like long term, medium term and short term sales to utilities as well as to the non-utility (Retail) segment.

Shares of the company gained Rs 1.45, or 2.25%, to trade at Rs 65.80. The total volume of shares traded was 94,908 at the BSE (1.41 p.m., Wednesday).