PTC India Fin shares nosedive 20% as net profit plunges

Stock of PTC India Financial Services plunged nearly 20 per cent today after the company reported a 65.91 per cent decline in net profit for the January-March quarter of FY 2015.
The stock tumbled 19.57 per cent to end at Rs 47.05 on the BSE. During the day, it nosedived 20 per cent to Rs 46.80.
On the NSE, the scrip dipped 19.69 per cent to settle at Rs 46.90.
Led by sharp dip in the stock, the company's market value dropped by Rs 643.4 crore to Rs 2,644.60 crore.
PTC India Financial Services (PFS) reported a 65.91 per cent decline in net profit at Rs 15.80 crore in January-March this year, from Rs 46.36 crore a year ago, the company said in a BSE filing.

For the entire 2014-15, the net profit stood at Rs 160.87 crore, from Rs 207.71 crore in the previous fiscal.

The total revenue for the fourth quarter of 2014-15 grew 45 per cent to Rs 217.25 crore from Rs 149.44 crore in the same period last year.
Similarly, the company's total revenue for the full year stood at Rs 801.91 crore as against Rs 463.99 crore (other than profit on sale of investments) in 2013-14, it said.
In the broader market, the BSE benchmark Sensex ended at 27,531.41, down 112.47 points.