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PFS sanctions fresh loans of Rs 2,329 crore in Q4

PFS sanctions fresh loans of Rs 2,329 crore in Q4


Mumbai (Maharashtra) :  PTC India Financial Services (PFS) said on Thursday it sanctioned fresh loans of Rs 2,329 crore and disbursements of Rs 1,331 crore during the quarter ended March.

Provision coverage ratio increased to 62 per cent in Q4 FY21 compared to 49 per cent in Q3 FY21.

The company’s net interest income for Q4 FY21 increased to Rs 96.48 crore as compared to Rs 91.87 crore in Q4FY20. But profit before tax and profit after tax were negative Rs 30.54 crore and Rs 53.66 crore respectively.

During the January to March quarter, PFS provided off one non-performing asset account in which one-time settlement offer is available and under consideration of PFS Board.

Yield on earning assets stood at 10.98 per cent in Q4 FY21 compared to 11.66 per cent in the same period of previous fiscal while debt equity ratio improved to 4.37 times compared to 4.43 times in Q4 FY20.

“We are unwavering in our commitment to have a clean and strong balance sheet, both in terms of the nature of our business and the quality of our portfolio,” the company said in a statement.

“With around 50 per cent of our loan book to renewable energy, we will continue to focus on new areas of additionality and sustainability like annuity based infra, water sanitation, e-mobility, ports and highways as well as renewable energy space, which will pave the way for stupendous growth in the coming quarters.”

PTC India Financial Services is a non-banking finance company promoted by PTC India Ltd. The company offers an array of financial products to infrastructure companies in the entire energy value chain and other infrastructure industries.

Source : ANI

Anand Gupta Editor - EQ Int'l Media Network