PTC India Financial Services Q1FY24 profits reach Rs 36.7cr

PTC India Financial Services, a non-banking finance company backed by PTC India Limited, has unveiled its financial performance for the first quarter of the fiscal year 2024 (Q1FY24). The key highlight from the report is the Profit After Tax (PAT) reaching ₹36.76 crore, a marginal increase from the ₹36.41 crore registered in the previous quarter (Q4FY23).

However, the total income for Q1FY24 witnessed a slight decline, standing at ₹193.23 crore compared to ₹199.7 crore in Q4FY23. Furthermore, both Profit Before Tax (PBT) and PAT for Q1FY24 have shown growth, with figures standing at ₹49.24 crore and ₹36.77 crore, respectively. These numbers were ₹45.46 crore and ₹36.41 crore in Q4FY23.

Notably, the yield on the Earning Portfolio improved to 10.77% in Q1FY24 from 10.61% in Q4FY23, while the Debt Equity Ratio stood at 2.05 times in Q1FY24, compared to 2.09 times in Q4FY23. The Net Interest Margin (NIM) on the Earning Portfolio for Q1FY24 was slightly lower at 4.33%, compared to 4.35% in Q4FY23.

The report also noted a rise in the cost of borrowed funds, standing at 8.35% in Q1FY24, compared to 8.11% in Q4FY23. The Net Interest Income (NII) for Q1FY24 was ₹80.04 crore, down from ₹81.59 crore in Q4FY23.

As of June 30, 2023, the total outstanding credit, which includes the aggregate of loan assets and non-fund-based commitments against sanctioned loans, stood at ₹7,453 crores. The Capital Adequacy Ratio as of the same date was 34.9%, while a total of ₹305 crore in fresh loans were sanctioned, and ₹332 crore was disbursed during Q1FY24.

In a statement, PTC India Financial Services management commented on their satisfaction with the Q1FY24 performance, noting their continued commitment to sustainable green infrastructure finance and alignment with the Government’s vision of achieving net zero carbon emissions. They also highlighted their support for various sustainable infrastructure initiatives, including Water Treatment, Green Hydrogen, Clean Water Distribution, Smart Cities, and Waste Management, among others.