PTC India, which is hopeful of maintaining growth in FY14, has recorded its 1st year when tolling contributed to overall units. The company, which received Rs 375 crore from Tamil Nadu electricity board last year, is expecting to recover all the outstanding dues from Tamil Nadu, Uttar Pradesh (UP) this year.
Further, the company expects TN’s State Electricity Board (SEB) to clear all its dues in coming 2-3 months. PTC’s dues from Uttar Pradesh sum to about Rs 420 crore as of now, while it amounts Rs 400 crore from Tamil Nadu.
PTC acts as intermediary between buyer and sellers of power. In case of cross-border trading, the company plays the role of a nodal agency. It offers advisory services for setting up independent power producing plants.
