PTC India Financial Services Q2FY24 net profit rises to ₹59.77 crore

Share via:

-PTC India Financial Services (PFS) declared Financial Performance for the Quarter and Half year ended 30th September 2023-

Mumbai, October 31st 2023: PTC India Financial Services Limited (PFS), a leading financial institution in sustainable green infrastructure finance declared its Financial Performance for the Quarter and Half year ended 30th September 2023. The Profit after Tax (PAT) increased to 59.77 crore for Q2FY24 against 36.76 crore for Q1FY24 and 52.66 crore for Q2FY23.

Company’s NIM (Net Interest Margin) improved to 4.40% for H1FY24 compared to 4.28% a year ago. Also Capital Adequacy ratio stood at 38.58% hereby providing strong cushion for growth and expansion. Further the Return on Asset improved to 3.13% for Q2FY24 and 2.57% for H1FY24 compared to 2.35% in H1FY23.

PFS Management, said “We are pleased to unveil the impressive financial results achieved during the first half of the fiscal year 2024, solidifying our commitment to consistent performance. Overcoming the various challenges encountered, our Company has undertaken a strategic overhaul, reinforcing our operational infrastructure with a seasoned and proficient leadership team. Our strategic moves has positioned us to embark on an upward trajectory, gearing ourselves for sustained growth in the foreseeable future. Our current focus remains dedicated to enhancing the overall quality of our portfolio, with a keen emphasis on resolving lingering stress assets.

Our concerted effort underscores our unwavering dedication to fortify the foundation of our business, ensuring the optimal management of risks and bolstering the resilience of our operations. In parallel, we are actively engaging in the strategic alignment of fresh credit lines, aiming facilitation for systematic expansion with sustainable growth to sunshine sectors, to continue to deliver enduring value to all our stakeholders. ”.

About PFS

PFS is a non-banking finance company promoted by PTC India Limited. PFS has been granted the status of an Infrastructure Finance Company (“IFC”) by the Reserve Bank of India. The Company offers an array of financial products to infrastructure companies in the entire energy value chain and other infrastructure industries. PFS also provides fee based services viz loan syndication and underwriting etc.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

PTC India Financial Services Q2FY24 net profit rises to ₹59.77 crore

-PTC India Financial Services (PFS) declared Financial Performance for the Quarter and Half year ended 30th September 2023-

Mumbai, October 31st 2023: PTC India Financial Services Limited (PFS), a leading financial institution in sustainable green infrastructure finance declared its Financial Performance for the Quarter and Half year ended 30th September 2023. The Profit after Tax (PAT) increased to 59.77 crore for Q2FY24 against 36.76 crore for Q1FY24 and 52.66 crore for Q2FY23.

Company’s NIM (Net Interest Margin) improved to 4.40% for H1FY24 compared to 4.28% a year ago. Also Capital Adequacy ratio stood at 38.58% hereby providing strong cushion for growth and expansion. Further the Return on Asset improved to 3.13% for Q2FY24 and 2.57% for H1FY24 compared to 2.35% in H1FY23.

PFS Management, said “We are pleased to unveil the impressive financial results achieved during the first half of the fiscal year 2024, solidifying our commitment to consistent performance. Overcoming the various challenges encountered, our Company has undertaken a strategic overhaul, reinforcing our operational infrastructure with a seasoned and proficient leadership team. Our strategic moves has positioned us to embark on an upward trajectory, gearing ourselves for sustained growth in the foreseeable future. Our current focus remains dedicated to enhancing the overall quality of our portfolio, with a keen emphasis on resolving lingering stress assets.

Our concerted effort underscores our unwavering dedication to fortify the foundation of our business, ensuring the optimal management of risks and bolstering the resilience of our operations. In parallel, we are actively engaging in the strategic alignment of fresh credit lines, aiming facilitation for systematic expansion with sustainable growth to sunshine sectors, to continue to deliver enduring value to all our stakeholders. ”.

About PFS

PFS is a non-banking finance company promoted by PTC India Limited. PFS has been granted the status of an Infrastructure Finance Company (“IFC”) by the Reserve Bank of India. The Company offers an array of financial products to infrastructure companies in the entire energy value chain and other infrastructure industries. PFS also provides fee based services viz loan syndication and underwriting etc.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

NFTs record $158M weekly sales volume, led by Ethereum,...

November has already surpassed October’s total volume, continuing...

Gurman: Apple has no plans for a ‘meaningful’ AirPods...

According to Mark Gurman’s latest Power On newsletter,...

Why Enterprises Are Betting on Blockchain-Based Smart Contracts

In today’s digital world, the demand for secure,...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!