POWER TRADING CORPORATION PTC india A power Stock

POWER TRADING CORPORATION recognized as PTC India, the stock had built up positions in anticipation of major sops coming in for the power sector in the interim budget. But as that did not happen, the stock yesterday lost over 4%.
Net income for Q3 FY 2008-09 was at Rs. 2117.04 crore, up 4% on a QoQ and by a whopping 188%on a YoY. What is very good about the company is that it has a very low interest outgo vis-à-vis the size of its operations. For the quarter it was at Rs.71 lakhs which in Q3FY08 was at Rs.62 lakhs. Net profit was at Rs.23.68 crore, down 28% on a QoQ while up it was up almost four times on a YoY.
What is not-so-good about the company is the low margin. It almost always manages to have an OPM in the range of 1.4-.1.6% range while NPM is also above one percent but within two percent. It was only during March 2008 quarter that it posted its highest ever OPM, which was above 4% and NPM was above 3%.
PTC facilitated a banking transaction for the first time between NDPL (North Delhi Power Limited) and JVVNL (Jaipur Vidyut Vitran Nigam Limited) for 108.29 MU. Under an MOU between PTC and BEE, PTC has initiated energy efficiency projects, particularly the government buildings such as Presidential Estate and AIIMS among others, through performance contract model.
PTC Energy Limited and Barak Power Limited were incorporated as wholly owned subsidiary and 50:50 JV. It also commenced supply of 20 MW firm power to Nepal under a commercial arrangement.
The company is sure to end FY09 on a very high note compared to FY08 and that could see some major price movement in March 09’. thanks