PFS shares tank nearly 6% as quarterly net profit slides

Shares of PTC India Financial Services today plunged nearly 6 per cent after the company saw its net profit nearly halve to Rs 54.81 crore for the three months ended December 31.
Shares of PFS slumped 5.69 per cent to end at Rs 67.90 on the BSE. In intra-day, it tanked 6.25 per cent to Rs 67.50.
On the NSE, it slipped 5.55 per cent to settle at Rs 68.05.
The company's market value fell by Rs 230.45 crore to Rs 3,816.55 crore.
In terms of volume, 14.34 lakh shares of the company changed hands at the BSE, while more than 43 lakh shares were traded at the NSE during the day.

Bogged down by higher finance costs, PTC India Financial Services (PFS) today saw its net profit nearly halve to Rs 54.81 crore in the October-December quarter.

The non-banking finance company, promoted by PTC India, had a net profit of Rs 106.90 crore in the year-ago period.
PFS' total income from operations rose to Rs 212.02 crore in the third quarter of current financial year from Rs 201.04 crore registered in the same period a year ago, according to a regulatory filing.
The steep fall in net profit was mainly on account of finance cost which surged in the October-December quarter.