PTC India loses zeal

PTC India, on Friday had a volatile day, hitting a new high at Rs.72.60 and then ending the day in the red at Rs.68.30. Today, it seems to have lost all its zeal. Though the stock opened some 2.3% in the green, profit booking soon pushed the stock down into the red to Rs.66 levels  and is currently trading at Rs,67 levels.

The company, Friday late evening announced its earnings for Q3FY21. Its consolidated net profit rose almost 80% (YoY) to Rs.114 crore on a 1% drop in total income at Rs.3795 crore. An almost 2.5% drop in total expenses and an add-back of deferred tax to the tune of Rs.44 crore helped boost the bottomline.

A PSU, formerly known as Power Trading Corporation of India,  its main source of income is trading in power and then ‘investments’ which is basically interest income from loan financing/debenture.