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PTC India Financial Services Ltd : Latest Quarterly Results Analysis

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PTC India Financial Services Ltd. 31 May 2024 18:14 PM

Q4FY24 Quarterly & FY24 Annual Result Announced for PTC India Financial Services Ltd.

Finance company PTC India Financial Services announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Total Income for Q4FY24 stood at Rs 176.92 crore as compared to Rs 199.70 crore in Q4FY23
  • Profit before Tax (PBT) and Profit after Tax (PAT) for Q4FY24 stood at Rs 19.27 crore and Rs 13.85 crore compared to Rs 45.45 crore and Rs 36.41 crore in Q4FY23 respectively
  • Yield on Earning Portfolio improved to 11.91% in Q4FY24 compared to 10.61% in Q4FY23
  • Debt Equity Ratio improved to 1.54 times in Q4FY24 compared to 2.09 times in Q4FY23
  • Net Interest Margin (NIM) (Earning Portfolio) increased to 4.92% in Q4FY24 compared to 4.35% in Q4FY23
  • Spread (Earning Portfolio) for Q4FY24 improved to 2.79% compared to 2.50% in Q4FY23
  • Cost of borrowed funds stood at 9.12% in Q4FY24 compared to 8.11% in Q4FY23 

FY24 Financial Highlights:

  • Total Income for FY24 stood at Rs 776.28 crore compared to Rs 797.08 crore in FY23
  • Profit before Tax (PBT) and Profit after Tax (PAT) for FY24 stood at Rs 215.98 crore and Rs 160.75 crore compared to Rs 232.37 crore and Rs 175.82 crore in FY23 respectively
  • Yield on Earning Portfolio improved to 11.38% in FY24 compared to 10.51% in FY23
  • Debt Equity Ratio improved to 1.54 times in FY24 compared to 2.09 times FY23
  • Net Interest Margin (NIM) (Earning Portfolio) increased to 4.82% in FY24 compared to 4.23% in FY23
  • Spread (Earning Portfolio) for FY24 stood at 2.68% compared to 2.83% in FY23
  • Cost of borrowed funds have been increased to 8.70% in FY24 compared to 7.68% in FY23
  • Net Interest Income (NII) for FY24 increased to Rs 340.59 crore compared to Rs 334.66 crore in FY23

Result PDF

Non-banking Financial company PTC India Financial Services announced Q3FY24 & 9MFY24 results:

  • Q3FY24:
    • Total Income for Q3FY24 stood at Rs 204.32 crore as compared to Rs 194.33 crore in Q3FY23
    • Profit before Tax (PBT) and Profit after Tax (PAT) for Q3FY24 increased to Rs 67.48 crore and Rs 50.37 crore compared to Rs 48.97 crore and Rs 36.18 crore in Q3FY23 respectively
    • Yield on Earning Portfolio improved to 11.37% in Q3FY24 compared to 10.35% in Q3FY23
    • Debt Equity Ratio improved to 1.64 times in Q3FY24 compared to 2.24 times in Q3FY23
    • Net Interest Margin (NIM) (Earning Portfolio) increased to 4.92% in Q3FY24 compared to 4.00% in Q3FY23
    • Spread (Earning Portfolio) for Q3FY24 stood at 2.48% compared to 2.69% in Q3FY23
    • Cost of borrowed funds stood at 8.89% in Q3FY24 compared to 7.66% in Q3FY23
  • 9MFY24:
    • Total Income for 9MFY24 increased to Rs 599.36 crore compared to Rs 597.38 crore in 9MFY23
    • Profit before Tax (PBT) and Profit after Tax (PAT) for 9MFY24 increased to Rs 196.71 crore and Rs 146.90 crore compared to Rs 186.91 crore and Rs 139.40 crore in 9MFY23 respectively
    • Yield on Earning Portfolio improved to 11% in 9MFY24 compared to 10.48% in 9MFY23
    • Debt Equity Ratio improved to 1.64 times in 9MFY24 compared to 2.24 times in 9MFY23
    • Net Interest Margin (NIM) (Earning Portfolio) increased to 4.57% in 9MFY24 compared to 4.19% in 9MFY23
    • Spread (Earning Portfolio) for 9MFY24 stood at 2.44% compared to 2.93 % in 9MFY23
    • Cost of borrowed funds has been increased to 8.56% in 9MFY24 compared to 7.55% in 9MFY23
    • Net Interest Income (NII) for 9MFY24 increased to Rs 258.80 crore compared to Rs 253.06 crore in 9MFY23
  • The total outstanding credit i.e. loan assets against sanctioned loans, stood at Rs 6,495 crores as of 31st December 2023
  • Capital Adequacy Ratio as of 31st December 2023 stood at 44.45%

Management of PTC India Financial Services, said, " PFS is delighted to present financial performance for the third quarter and nine months for FY24. The company has executed a strategic overhaul to overcome various challenges it faced earlier, over the last few quarters, reinforcing our operational infrastructure with a seasoned leadership team. These strategic initiatives have strategically positioned us on an upward trajectory, setting the stage for sustainable growth in the foreseeable future. PFS remains focused on continuously improve the overall asset quality of the portfolio and resolving our staged assets.

The strategic realignment of our leadership team and operational focus positions us for success in the dynamic business landscape. As we navigate these changes, our goal is to maintain a robust and adaptable business model that can capitalize on emerging opportunities. In conclusion, our initiatives reflect our proactive stance in navigating the ever-evolving business environment. With a keen eye on quality enhancement, risk management, and strategic expansion, we are confident in our ability to deliver sustainable growth and value to our stakeholders in the coming years"

Result PDF

Non-Banking Financial company PTC India Financial Services announced Q4FY23 & FY23 results:

  • Q4FY23 vs Q4FY22:
    • Total Income for Q4FY23 stood at Rs 199.70 crore compared to Rs 231.35 crore in Q4FY22
    • Profit before Tax (PBT) and Profit after Tax (PAT) for Q4FY23 stood at Rs 45.45 crore and Rs 36.41 crore compared to Rs 33.52 crore and Rs 24.98 crore in Q4FY22 respectively
    • Yield on Earning Portfolio improved to 10.61% in Q4FY23 compared to 10.52% in Q4FY22
    • Debt Equity Ratio improved to 2.09 times in Q4FY23 compared to 3.14 times in Q4FY22
    • Net Interest Margin (NIM) (Earning Portfolio) increased to 4.35% in Q4FY23 compared to 4.30% in Q4FY22
    • Spread (Earning Portfolio) for Q4FY23 stood at 2.50% compared to 2.92% in Q4FY22
    • Cost of borrowed funds has been increased to 8.11% in Q4FY23 compared to 7.60% in Q4FY22
  • Q4FY23 vs Q3FY23:
    • Total Income for Q4FY23 stood at Rs 199.70 crore compared to Rs 194.33 crore in Q3FY23
    • Profit before Tax (PBT) and Profit after Tax (PAT) for Q4FY23 stood at Rs 45.45 crore and Rs 36.41 crore compared to Rs 48.97 crore and Rs 36.17 crore in Q3FY23 respectively
    • Yield on Earning Portfolio increased to 10.61% in Q4FY23 compared to 10.35% in Q3FY23
    • Debt Equity Ratio improved to 2.09 times in Q4FY23 compared to 2.24 times compared Q3FY23
    • Net Interest Margin (NIM) (Earning Portfolio) improved to 4.35% in Q4FY23 compared to 4.00% in Q3FY23
    • Spread (Earning Portfolio) for Q4FY23 stood at 2.50% compared to 2.69% in Q3FY23
    • Cost of borrowed funds has been increased to 8.11% in Q4FY23 compared to 7.66% in Q3FY23
  • FY23 vs FY22:
    • Total Income for FY23 stood at Rs 797.08 crore compared to Rs 968.75 crore in FY22
    • Profit before Tax (PBT) for FY23 increased to Rs 232.37 crore compared to Rs 173.91 crore in FY22
    • Profit after Tax (PAT) increased to Rs 175.81 crore in FY23 compared to Rs 129.98 crore in FY22
    • Yield on Earning Portfolio stood at 10.51% in FY23 compared to 10.60% in FY22
    • Net Interest Margin on earning portfolio increased to 4.23% in FY23 compared to 4.19% in FY22
    • Business (disbursements) of Rs 2,253 crore has been made in FY23
    • The total outstanding credit i.e. aggregate of loan assets and non-fund based commitments against sanctioned loans, stood at Rs 7,339 crore as on 31 March, 2023
    • Capital Adequacy Ratio as on 31st March, 2023 stood at 33.05%
    • Return on Net worth for the year ended 31st March, 2023 stood at 7.47%

 

 

Result PDF

PTC India Financial Services announced Q3FY23 results:

  • Q3FY23:
    • The total outstanding credit i.e. aggregate of loan assets and non-fund-based commitments against sanctioned loans, stood at Rs 7,301 crore as on Q3FY23. Loan assets aggregated to Rs 7,301 crore and outstanding non-fund-based commitments aggregated to Rs Nil.
    • Capital adequacy ratio as on Q3FY23 stood at very comfortable level of 33.30%.
    • Return on Assets (ROA) for 9 months ended Q3FY23 stood at 2.14%.
    • Even in a rising interest rate scenario, the company maintained a very competitive borrowing interest cost at 7.55% for 9MFY23 similar to the best credit-worthy borrowers.
  • Q3FY23 vs Q3FY22:
    • The total income for Q3FY23 stood at Rs 194.32 crore compared to Rs 241.09 crore in Q3FY22.
    • Profit before Tax (PBT) and Profit after Tax (PAT) for Q3FY23 stood at Rs 48.97 crore and Rs 36.17 crore Compared to Rs 9.49 crore and Rs 6.93 crore in Q3FY22 respectively.
    • The yield on Earning Portfolio stood at 10.35% in Q3FY23.
    • Debt equity Ratio improved to 2.24 times in Q3FY23 compared to 3.36 times in Q3FY22.
    • Healthy Net Interest Margin (NIM) (Earning Portfolio) maintained at 4.00% in Q3FY23 compared to 4.02% in Q3FY22.
    • Spread (Earning Portfolio) for Q3FY23 stood at 2.69% compared to 2.80% in Q3FY22.
    • Cost of borrowed funds maintained at 7.66% in Q3FY23 compared to 7.54% in Q3FY22.
  • Q3FY23 VS Q2FY23:
    • Total Income for Q3FY23 stood at Rs 194.32 crore compared to Rs 195.84 crore in Q2FY23.
    • Profit before Tax (PBT) and Profit after Tax (PAT) for Q3FY23 stood at Rs 48.97 crore and Rs 36.17 crore compared to Rs 70.27 crore and Rs 52.66 crore in Q2FY23 respectively.
    • The yield on Earning Portfolio stood at 10.35% in Q3FY23 compared to 10.58% in Q2FY23.
    • The debt equity Ratio improved to 2.24 times in Q3FY23 compared to 2.38 times in Q2FY23.
    • Healthy Net Interest Margin (NIM) (Earning Portfolio) maintained at 4.00% in Q3FY23 compared to 4.34% in Q2FY23.
    • Spread (Earning Portfolio) for Q3FY23 stood at 2.69% compared to 3.12% in Q2FY23.
    • Cost of borrowed funds was maintained at 7.66% in Q3FY23 compared to 7.46% in Q2FY23.
  • 9MFY23 VS 9MFY22:
    • Net Interest Income (NII) for 9MFY23 stood at Rs 252.61 crore compared to Rs 257.47 crore in 9MFY22.
    • Total income for 9MFY23 stood at Rs 597.38 crore compared to Rs 737.38 crore in 9MFY22.
    • Profit before Tax (PBT) for 9MFY23 increased to Rs 186.91 crore compared to Rs 140.39 crore in 9MFY22.
    • Profit after Tax (PAT) increased to Rs 139.40 crore in 9MFY23 compared to Rs 105.01 crore in 9MFY22.
    • Yield on Earning Portfolio stood at 10.48% in 9MFY23 compared to 10.62% in 9MFY22.
    • Healthy Net Interest Margin on earning portfolio maintained at 4.19% in 9MFY23 compared to 3.99% in 9MFY22.
    • Business (disbursements) of Rs 1,670 crore has been made in 9MFY23 as compared to Rs 3,508 crore in 9MFY22.

Management Commentary: "We are pleased with the company’s stable performance in the third quarter of FY23. As we continue to review a strong credit pipeline, our focus remains solely on becoming a leader in sustainable green project financing with additionality. We continue to work across green hydrogen, sustainable environmentally friendly projects like water treatment projects, CNG biogas, clean water distribution, smart cities, electric mobility, waste management facilities, and other sustainable green infrastructure finance projects by leveraging on our in-house expertise. Our organization's goals are integrated with global priorities on climate change and our own national priorities on green infrastructure towards net zero commitment. The recent green budget of the Government of India going to throw up several business opportunities for the company. We have restarted our active credit growth efforts from December. Our Board has started bringing new talent into the company to achieve the desired level of growth and performance. We will continue to work with our banking partners to build a robust pool of loan project opportunities in the next quarter."

 

Result PDF

PTC India Financial Services announced Q4FY22 results:

  • Q4FY22 VS Q4FY22:
    • Total Income for Q4FY22 stood at Rs. 241.09 crore as compared to Rs. 269.39 crore in Q4FY21
    • Profit before Tax (PBT) and Profit after Tax (PAT) for Q4FY22 stood at Rs. 9.50 crore and Rs. 6.93 crore compared to Rs. 32.90 crore and Rs. 20.85 crore in Q4FY21 respectively
    • Yield on Earning Portfolio stood at 10.34% in Q4FY22
    • Debt Equity Ratio improved to 3.36 times in Q4FY22 compared to 4.09 times in Q4FY21
    • Net Interest Margin (NIM) (Earning Portfolio) improved to 4.02% in Q4FY22 compared to 3.84% in Q4FY21 (Up by 18 bps)
    • Spread (Earning Portfolio) for Q3FY22 stood at 2.80% compared to 2.86% in Q4FY21
    • Cost of borrowed funds have been reduced to 7.54% in Q4FY22 compared to 8.39% in Q4FY21
  • Q4FY22 VS Q3FY22:
    • Net Interest Income (NII) for Q4FY22 stood at Rs. 88.56 crore compared to Rs. 89.30 crore in Q3FY22
    • Total Income for Q4FY22 stood at Rs. 241.09 crore as compared to Rs. 242.34 crore in Q3FY22
    • Profit before Tax (PBT) stood at Rs. 9.50 crore in Q4FY22 as compared to Rs. 69.96 crore in Q3FY22
    • Profit after Tax (PAT) stood at Rs. 6.93 crore in Q4FY22 as compared to Rs. 52.47 crore in Q3FY22
    • Spread (Earning Portfolio) for Q4FY22 stood at 2.80% as compared to 2.99% in Q3FY22
    • Cost to Income ratio have been improved to 11.23% in Q3FY22 compared to 12.16% in Q3FY22

 

 

Result PDF

Highlights:

  • Fresh Loans of Rs. 541 crore sanctioned and further disbursements of Rs. 433 crores have been made during the quarter in the areas of sustainable financing
  • PFS further enhanced its business growth with sanctions of Rs. 1,851 crores and disbursements of Rs.761 crores in current quarter till date
  • Profit before Tax (PBT) stood at Rs. 69.96 crore and Profit after Tax (PAT) stood at Rs. 52.47 crore for Q2FY22
  • ROA improved to 2.20% in Q2FY22 compared to 1.10% a year ago
  • Capital Adequacy ratio for the quarterstood at 26.06% hereby providing strong cushion for growth and expansion

Management Commentary:

The recent tangible efforts of the Indian government to invigorate the economy has started to pay off as there are some obvious signs of economic revival. We continue to successfully overcome all difficulties on our path towards all-inclusive growth. We are determined to go from strength to strength. As we conclude the second quarter of the Financial Year 2021-22, we are delighted to share the Company’s remarkable performance across all parameters. Profit for the quarter has increased to Rs. 52 crore, and our net interest margins improved to 4.14%, majorly on the back of improved cash flows and strong liquidity position. We are steadfast in our commitment to maintaining a clean and robust balance sheet in terms of the nature of business and the quality of assets. In order to achieve sustainable growth and strong credit positions, we continue to enhance our NIMs, Cost of Borrowings and all Operating Margins. Going forward, your Company shall continue its focus on new areas of incorporating sustainable green infrastructure projects like renewable energy, wastewater treatment plant, e-mobility, e-vehicle manufacturing etc., in order to increase its brand value. PFS has started creating new records of success this quarter and is fully capable to reach newer heights in future resurgence, expansion and growth.

Result PDF

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