PTC India likely to clock 20% growth in power trading in FY24, says CMD Mishra
PTC India Ltd has clocked 16 per cent growth in its power trading volumes during the first quarter of this fiscal and hopes for around 20 per cent rise in the entire 2023-24, driven by targeted segment wise trade and innovative products, according to CMD Rajib Kumar Mishra. PTC India's trading activities include long-term trading of power generated from large power projects and short-term trading arising from supply and demand mismatches, which inevitably occur in various regions of the country. The company also has a mandate to trade electricity with Bhutan, Nepal, and Bangladesh.
In an interview with PTI, the company's chairman and managing director was extremely bullish about the growth prospects in the current fiscal, buoyed by the operational performance in the first quarter. «Our daily power trading volumes have increased by 16 per cent year-on-year in the April-June period of this fiscal. We crossed the 300 MU/day traded volume on June 25, the highest in this fiscal.
We expect the volumes to increase further and clock a growth of 20 per cent for the full year,» Mishra said. At an extraordinary general meeting (EGM) held last week, shareholders of PTC India approved the appointment of Mishra as the company's chairman and managing director with requisite majority votes. He expected the growth momentum to strengthen in the remaining period and hoped for around 20 per cent growth for the full fiscal.
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