Ptc India share price: PTC jumps 6% after hitting record trading volume of 87,000 million units in FY22

NEW DELHI – Shares of PTC India jumped 6.4% in early trade on Monday, as the electricity trading solutions provider said it saw a record trading volume of 87.450 million units in 2021-2022, a jump of 9.25% compared to the previous year.

PTC India’s meter climbed to a high of Rs 91.55 from Rs 86.05 at the previous close on BSE.

According to reports, in the previous fiscal year, the company for the first time facilitated the import of electricity by Bhutan to meet an intermittent need of around 400 MW during the winter months.

The company has also launched a 200MW power supply to neighboring Bangladesh from Sembcorp Energy, helping to resolve a long-outstanding deal, according to reports.

In 2021-22 (April-March), the company signed a power supply agreement with the Nepal Electricity Authority for 70 MW, according to reports.

It has also signed 820 MW of medium-term PPA (Power Purchase Agreement)/PSA (Power Sale Agreement) under a pilot program for a period of three years, according to reports.

Last month, the Andhra Pradesh High Court ordered Danu Wind Farms DISCOM to pay dues to PTC as per the PPP rate, according to reports.

Danu Wind Parks has developed two wind projects namely 22.8MW and 25.3MW in Kurnool and Anantpur districts in Andhra Pradesh which were commissioned in 2016 and 2018 respectively.

PTC had sanctioned term debt of Rs 117 crore and Rs 169 crore in instant loan accounts respectively.