PTC India Financial Services fell 13.52% to Rs 21.75 at 14:47 IST on BSE after the company reported net loss of Rs 110.44 crore in Q4 March 2018 compared with net profit of Rs 109.76 crore in Q4 March 2017.
The result was announced on Saturday, 12 May 2018.
Meanwhile, the S&P BSE Sensex was up 8.90 points, or 0.03% to 35,544.69.
On the BSE, 9.78 lakh shares were traded in the counter so far compared with average daily volumes of 1.31 lakh shares in the past two weeks. The stock had hit a high of Rs 24 so far during the day. The stock had hit a low of Rs 21.45 so far during the day, which is also a 52-week low for the counter. The stock hit a 52-week high of Rs 50.70 on 15 May 2017.
PTC India Financial Services (PFS)’s total income fell 32.69% to Rs 290.53 crore in Q4 March 2018 over Q4 March 2017.
As at 31 March 2018, the gross non-performing assets (NPAs) as at 31 March 2018 stood at Rs 838 crore compared to Rs 585 crore as at 31 March 2017. The cumulative effective debt sanction amounted to Rs 33104 crore whereas outstanding cumulative effective debt sanctioned stood at Rs 23827 crore. The debt sanction during the year aggregated to Rs 8250 crore comprising mainly of Rs 4840 crore to renewable projects and Rs 3410 crore to other areas such as transmission, distribution, road etc. The debt sanction during the previous year aggregated to Rs 10297 crore. The debt disbursements aggregated to Rs 5103 crore during the year ended 31st March 2018 compared to Rs 4179 crore during the previous year.
Commenting on the performance for Q4 March 2018, Dr. Ashok Haldia, managing director & CEO, said that the loan portfolio of the company has grown by about 21% on y-o-y basis to Rs 12816 crore, together with the non-fund based portfolio, the total portfolio exceeds Rs 14300 crore, PFS would continue to maintain growth momentum. The profits of the company however turned negative during the quarter due to impact of stress assets. Business model of the company remains robust with net interest income of Rs 438 crore for the year. The profit before tax has been affected due to stress in thermal and hydro sector. This despites the profit before provisions and taxes for the year amount to Rs 467 crore for the year. Further, net interest margin and interest spread continue to be healthy. Importantly, the level of stress during the year has been contained without any increase and many projects are in advanced stage of resolution. PFS continues to focus on increasing financing to newer areas of infrastructure and further expects to increase lending through high yielding structured products with positive impact on portfolio and profitability.
PTC India Financial Services (PFS) is a non-banking finance company 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 viz loan syndication and underwriting etc.
Source: business-standard
