ICICI Securities Ltd | Retail Equity Research PTC India reported its Q1FY17 numbers, which were above our estimates. Volume growth was ahead of our estimates, which led to overall PAT beat. PTC has adopted IND AS from Q1FY17 results Revenues were at | 3644.3 crore. The key positive surprise came in from volume growth of 19.1% YoY to 1222.1 crore units vs. our expectation of 1180 crore units in Q1FY17. We believe, going ahead, volume growth should get better on account of better hydro...