PTC India Financial Services Q2 profit rises 65% to Rs 52 crore

The company on Tuesday reported a 65 per cent jump in its net profit

PTC India Financial Services (PFS) on Tuesday reported a 65 per cent jump in its net profit to Rs 51.46 crore for the September 2021 quarter.

The non-banking finance company had posted a net profit of Rs 31.85 crore in the corresponding quarter of the previous financial year.

However, the total income during July-September quarter also fell to Rs 242.34 crore, against Rs 297.98 crore in the year-ago period, PFS said.

Net Interest Margin (NIM) (Earning Portfolio) improved to 4.14 per cent in Q2FY22 compared to 3.70 per cent in Q2FY21. Capital adequacy ratio for the quarter stood at 26.06 per cent hereby providing strong cushion for growth and expansion, it said.

"The total outstanding credit i.e. aggregate of loan assets and non-fund based commitments against sanctioned loans, stood at Rs 9,633 crore as on 30th September, 2021. Loan assets aggregated to Rs 9,290 crore and outstanding non-fund-based commitments aggregated to Rs 343 crore," it said.

Fresh loans of Rs 541 crore sanctioned and further disbursements of Rs 433 crore have been made during the quarter in the areas of sustainable financing, it added.