PTC India’s 3.15% margin ranks last among 15 reported Utilities peers
Other income contributed meaningfully to Rs 150.96 cr of pre-tax profit, while management flagged renewable energy and C&I demand as growth drivers.
Filed 04 Aug 2026, 19:45 IST · after market close · PTC India Ltd (PTC)
Key takeaways
- PTC India reported consolidated net profit of Rs 112.08 cr, but operating margin was only 3.15%.
- Its 3.15% operating margin was 28.84 percentage points below the 31.99% median for 15 Utilities peers.
- Management identified renewable energy, C&I consumers and CPP models as growth drivers alongside Q1FY27 revenue of Rs 4,773.80 cr.
Price around the results
Profit came with a thin operating spread
PTC India reported consolidated net profit of Rs 112.08 cr on revenue of Rs 4,773.80 cr in Q1FY27. The operating profit of Rs 150.54 cr translated into a 3.15% margin, leaving little operating cushion. Interest expense was Rs 51.98 cr, while depreciation was Rs 2.42 cr.
Margin trails the Utilities peer set
PTC’s 3.15% operating margin was 28.84 percentage points below the 31.99% median among 15 Utilities companies that had reported the quarter. It ranked first from the bottom in that comparison. Other income of Rs 54.82 cr was a meaningful contributor alongside pre-tax profit of Rs 150.96 cr, making earnings quality an important consideration.
Management points to renewable and C&I demand
Management said the transition towards carbon neutrality is creating new growth drivers in renewable energy, commercial and industrial consumers, and CPP models. These areas were identified in the company’s investor presentation as part of the business direction, rather than as a reported Q1FY27 revenue split.
Results were filed after market close
The company filed its consolidated Q1FY27 results after market close on 4 August 2026. The stock’s post-results reaction is therefore not part of this initial read.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹4,774 cr |
| Other income | ₹55 cr |
| Expenses | ₹4,623 cr |
| Operating profit | ₹151 cr |
| Operating margin (%) | 3.15% |
| Interest | ₹52 cr |
| Depreciation | ₹2 cr |
| Profit before tax | ₹151 cr |
| Tax | ₹39 cr |
| Net profit | ₹112 cr |
| EPS (₹) | ₹3.31 |
Operating margin of 3.15% compares with a Utilities sector median of 31.99% across 15 peers that have reported Q1FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Guidance & outlook
- Demand for renewable energy, C&I consumers and CPP models is identified as a new growth driver.
What to watch
- Whether operating margin moves up from 3.15%.
- Whether other income remains near Rs 54.82 cr relative to pre-tax profit.
- Whether interest expense changes from Rs 51.98 cr as the business mix evolves.