PFS quarterly profit climbs to Rs 38.13 cr

PTC India Financial Services today reported 27 per cent rise in net profit to Rs 38.13 crore for the September quarter, mainly on account of higher income.
A non-banking finance company, PFS had recorded a net profit of Rs 29.99 crore in the same period a year ago.
In the second quarter (July-September) of 2014-15, the company's total revenues soared to Rs 199.39 crore from Rs 109.45 crore registered in the year-ago period.
Net interest income jumped to Rs 83.81 crore.
According to PFS Managing Director and Chief Executive Officer R M Malla, the company's revenue in the latest quarter rose 82 per cent while net interest income growth stood at 67 per cent.

"We expect the momentum that we have achieved in this quarter as well to continue. With the recent deal with PFC Green Energy, we expect a boost to our renewable energy portfolio," Malla said in a statement.
At the end of September, PFS had total outstanding loan assets worth Rs 5,551 crore while the total debt sanctioned stood at Rs 10,562 crore.