PTC India May 14 reported 16.32 per cent drop in standalone net profit at Rs 53.86 crore for the quarter ended March 31, 2019, mainly due to lower dividend from its subsidiaries. The profit in the year-ago quarter stood at Rs 64.37 crore, as per a BSE filing.
A company official said PTC India got total dividend of Rs 8 crore from its subsidiaries PTC Energy and PTC Financial Services for 2018-19 as compared to Rs 62 crore in the pervious fiscal.
According to the filing, total income of the firm rose to Rs 2,673.25 crore in the latest quarter from Rs 2,179.08 crore in the year-ago period.
Total income during 2018-19 increased to Rs 13,627.29 crore from Rs 11,518.49 crore in 2017-18.
Net profit dipped to Rs 262.32 crore in 2018-19 from Rs 319.20 crore in the previous year.
The company's board recommended a dividend at the rate of 40 per cent (Rs 4 per equity share) on 29,60,08,321 fully paid up equity shares of Rs 10 each.
During 2018-19, loan amounting to Rs 385.77 crore has been written off post resolution of such amounts.
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