PTC India drops on fall in quarterly profit

PTC India

08/12/2022 06:55

** Shares of PTC India Ltd  PTCI.NS  fall as much as 5% to
85.8 rupees, their lowest since Nov. 24
    ** The power trading solutions provider on Wednesday
reported 32.2% fall in Sept-quarter profit of 1.2 billion rupees
($14.59 million), while total rev from ops fell 10.5%
    ** The trading volumes during the period were impacted due
to high tariffs in short term power markets and supply side
constraints on back of high prices of imported and e-auction
coal - Rajib K Mishra, CMD (Addl. Charge), PTC India said
    ** Co on track for second session of consecutive losses
    ** About 719,000 shares change hands by 12:05 p.m. IST vs
30-day avg of 497,534 shares
    ** Stock down 17.2% so far this year, as of last close
($1 = 82.2680 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))