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PTC India Financial Services
Failure to improve business volumes may impact profitability of Delhi-based NBFC, says agency
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PTC India Financial Services (PFS) on Thursday reported a multifold jump in its net profit to Rs 129.98 crore for the fiscal year ended in March 2022 compared to Rs 25.60 crore for 2020-21. In delayed earnings announcement, the non-banking finance company, promoted by PTC India, said it is now positioned to focus on growth and performance. "Forensic audit report has no findings of fraud or diversion of funds or material financial impact on the financials of the company," it said in a release. Capital adequacy ratio for the quarter ended March 2022 stood at 26.71 per cent hereby providing strong cushion for growth and expansion, it said. Total income stood at Rs 968.74 crore in FY22, down by 15 per cent from year ago's Rs 1,139.45 crore. While, the net interest income (NII) for FY22 stood at Rs 344.92 crore compared to Rs 353.74 crore in FY21. The aggregate loan assets and non-fund based commitments against sanctioned loans, stood at Rs 8,686 crore at end of March 2022. Loan asset
The forensic audit began after former chairman and outgoing independent directors of PFS raised governance and other issues in January this year
PTC in a statement on Thursday said a board meeting to declare the financial results would be called shortly
In January, all the three independent directors on the company's board had resigned over corporate governance issues and other matters
PTC India informed BSE about resignation by Kacker and also appended resignation letter along with communication.
PTC India, which holds 64.99% in PFS as promoter, has already formed an internal panel consisting of executive directors and chief financial officer to probe changes
Stock tanks 18.3% as independent directors resign
PTC India slumps 18% after 3 independent directors quit; SBI Card hits 52-week low; Mastek tumbles 11% on muted Q3 numbers; AGS Transact Technologies IPO subscribed 1.4 times on day 2
PTC India slumps 18% after 3 independent directors quit; SBI Card hits 52-week low; Mastek tumbles 11% on muted Q3 numbers; AGS Transact Technologies IPO subscribed 1.4 times on day 2
Three independent directors of the NBFC have resigned from the board with immediate effect citing instances of alleged serious lapses in corporate governance and compliance.
On January 10, the company secretary informed that Rantesh has re-joined NTPC
The company on Tuesday reported a 65 per cent jump in its net profit
PTC India Financial Services (PFS) has reported a 28 per cent decline in its net profit to Rs 31.85 crore for the September 2020 quarter
PTC financial Services, on standalone-basis, reported a sharp drop in annual profit to Rs 109.99 crore for FY20 from Rs 184.14 cr in FY19
The negative growth in the loan book of PFS, a unit of PTC India, is on account of funding challenges faced by NBFCs
PFS says it is shifting its focus towards renewable energy (RE), roads and transmission
Due to the closure of the mentioned transaction, PFS' stressed loan portfolio has come down by Rs 341.53 crore during Q4 of FY 2019
Power Secretary A K Bhalla Tuesday said PTC India Financial Services (PFS) should be careful and cautious while making investments in power sector and also ensure returns. The word of caution comes at a time when the power sector is reeling under stress due to various reasons including stranded projects, delayed payments by discoms and fuel shortage, among others. "I wish them (PFS) all the best...may they emerge as the best NBFC on the lines of our other NBFCs (PFC and REC), compete with people, invest money properly, ensure that you get returns also, (power) sector has a plenty of scope. So be careful and be cautious in investing money," Bhalla said. He was speaking at a function to launch three Mobile Health Clinics (MHCs) by PFS. The MHCs would provide medical outreach services to the underprivileged in the rural and remote areas of Delhi-NCR. The mobile clinics were flagged off by Bhalla in the presence of PTC India Chairman & Managing Director Deepak Amitabh, PFS MD & ...