Electric Utilities company PTC India announced Q4FY23 & FY23 results: Consolidated Q4FY23: Profit Before Tax (PBT) in Q4FY23 was Rs 171.05 crore Profit After Tax (PAT) in Q4FY23 was Rs 129.34 crore Consolidated FY23: Profit Before Tax (PBT) was down by 9% in FY23 amounting to Rs 680.37 crore Profit After Tax (PAT) was down by 8% in FY23 amounting to Rs 507.15 crore Standalone Q4FY23: Total Income for Q4FY23 decreased by 36% in Q4FY23 to Rs 179.58 crore primarily on account of a decrease in net surcharge income by ~63% compared to Q4FY22 Profit After Tax (PAT) was almost flat in Q4FY23 at Rs 155.34 crore compared to Rs 155.89 crore in Q4FY22 The Trading Volumes was down by 5% in Q4FY23 to 16,390 MU compared to 17,329 MU in Q4FY22 Standalone FY23: Total Income was down by 21% in FY23 to Rs 588.35 crore primarily driven by a 49% decrease in Net Surcharge Profit After Tax (PAT) was Rs 369.74 crore The Trading Volumes were down by 19% in FY23 to 70,610 MUs compared to 87,515 MUs in FY22 on account of a decrease of around ~15.1 BUs in low-margin power exchange-traded volumes The per unit core margin realized during the year has increased by 13.5% to 3.20 paisa per unit, compared to 2.82 paisa per unit. Commenting on the results, Dr. Rajib K Mishra, Chairman & Managing Director, PTC India, said "We are pleased to announce the financial results for Q4FY23 & FY23, both on a standalone and consolidated basis. The Board of Directors has recommended a dividend of Rs 7.8 per equity share for FY23, reiterating the confidence in PTC’s business model and prospects of the business in the future. FY23 for PTC India was a year of consolidation by taking strategic calls, ceding volumes to avoid a negative impact on the cost of funds, and reorienting the business model. Throughout the year, our company prioritized core margins over volumes as a part of the business strategy. The Government of India's initiatives, such as the LPS scheme, played a crucial role in enhancing the liquidity position of state utilities and reducing outstanding dues owed to PTC. After the implementation of the scheme, our surcharge income experienced a decline during the year. However, the scheme positively impacted our cash flows significantly, reducing the working capital cycle, decreasing the borrowing costs, and improving the cash balances." Result PDF