PFS drops after weak Q3 outcome

PTC India Financial Services lost 3.61% to Rs 69.40 at 13:36 IST on BSE, after net profit declined 48.7% to Rs 54.81 crore on 5.5% rise in total income to Rs 212.03 crore in Q3 December 2014 over Q3 December 2013.

The result was announced after market hours yesterday, 15 January 2015.

Meanwhile, the S&P BSE Sensex was up 25.08 points or 0.09% at 28,100.63

On BSE, so far 10.22 lakh shares were traded in the counter as against average daily volume of 7.49 lakh shares in the past one quarter.

The stock hit a high of Rs 70.50 and a low of Rs 67.50 so far during the day. The stock hit a record high of Rs 73.15 on 15 January 2015. The stock had hit a 52-week low of Rs 12.71 on 14 February 2014.

The stock had outperformed the market over the past one month till 15 January 2015, rising 21.72% compared with 2.77% rise in the Sensex. The scrip also outperformed the market in past one quarter, surging 65.52% as against Sensex's 6.55% rise.

The mid-cap company has equity capital of Rs 562.08 crore. Face value per share is Rs 10.

PTC India Financial Services (PFS) reported 62% surge in net interest income (NII) to Rs 89.80 crore in Q3 December 2014 over Q3 December 2013. Yield on loan assets stood at 13.69% in Q3 December 2014. Net interest margin (NIM) and spread stood at 6.29% and 4.3% respectively for Q3 December 2014, PFS said.

As at 31 December 2014, PFS reported nil net NPAs. Total outstanding loan assets rose 75% to Rs 5883 crore as at 31 December 2014 from Rs 3354 crore as at 31 December 2013. Total debt sanctioned stood at Rs 12449 crore.

PFS is a non-banking financial company (NBFC) promoted by PTC India. 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. PFS also provides fee based services like syndication and underwriting.

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