Homevideos Newsearnings News

    PTC India will see impact from new product & market in FY23, says CMD Deepak Amitabh

    videos | IST

    PTC India will see impact from new product & market in FY23, says CMD Deepak Amitabh

    Mini

    Deepak Amitabh, Chairman and managing director (CMD) of PTC India, in an interview with CNBC-TV18, said the company will see impacts from new products and new markets in FY23.

    Deepak Amitabh, Chairman and managing director (CMD) of PTC India, in an interview with CNBC-TV18, said the company will see impacts from new products and new markets in FY23.
    The power trading solutions firm on Wednesday, August 11, reported an over 36 percent jump in consolidated net profit to Rs 136.17 crore for the June quarter of FY22. The company's net profit had stood at Rs 100.06 crore in the same quarter of FY21.
    However, the total income increased to Rs 4,959.99 crore during the quarter, from Rs 4,641.28 crore in the year-ago period. Total expenses also increased to Rs 4,777.10 crore, compared with Rs 4,499.51 crore a year ago.
    “Next couple of years is going to be a market time and PTC being a dominant player will get all the benefits and that's the reason we are preparing ourselves on the technology front also, new exchange is going to come up; obviously, it is going to take next 3-6 months before it becomes operationalised, but the impact of the new market and new market product will be seen in the next financial year,” said Amitabh.
    On numbers, he said the COVID-19 pandemic impacted the business in Q1 of FY22. Nearly 56-57 percent of sales have been done through short-term and balance by long-term.
    “However in this calendar year, whatever we have to sign (the deals) we will certainly be able to sign and that will give us the contribution to the medium and long term,” he said.
    For the entire management interview, watch the video
    - With PTI inputs
    next story

      Market Movers

      View All
      CompanyPriceChng%Chng