PTC India Financial Services (PFS) lost 5.87% to Rs 19.25 after the company reported consolidated net loss stood of Rs 53.66 crore in Q4 FY21 compared with net profit of Rs 7.05 crore in Q4 FY20.
Total income dropped 17.5% to Rs 274.57 crore in Q4 FY21 over Q4 FY20. The company reported pre-tax loss of Rs 30.54 crore in Q4 FY21 as against pre-tax profit of Rs 14.41 crore in Q4 FY20.
During the financial year, PTC India Financial Services’ consolidated net profit tanked 76.72% to Rs 25.60 crore on 16.81% decline in total income to Rs 1,139.45 crore in FY 2021 over FY 2020.
During the quarter, the company sanctioned loans worth Rs 2,329 crore, registering an increase of 164% while the loans disbursements soared 160% to Rs 1,331 crore despite the impact of COVID-19.
The company reported that there have been no further slippages in the current quarter. The provision coverage ratio (PCR) has increased to 62% in Q4 FY21 compared with 49% in Q3 FY21.
As a matter of prudence, PTC India Financial Services (PFS) has made full provision on one of its NPA account for which offer of one-time settlement (OTS) is available and under consideration of PFS board.
Net Interest Income (NII) for Q4 FY21 increased to Rs 96.48 crore as compared to Rs 91.87 crore in Q4 FY20, recording a 5.01% Y-o-Y (year-on-year) growth. The adjusted Net Interest Margin (NIM) improved to 4.24% in Q4 March 2021 compared to 3.38% in Q4 March 2020.
Adjusted Spread for Q4 FY21 stood at 2.98% as against a spread of 2.68% in Q4 FY20. The yield on earning assets has stood at 10.98% in Q4 FY21 compared to 11.66% in Q4 FY20. The Debt-Equity ratio improved to 4.37 times in Q4 FY21 compared to 4.43 times in Q4 FY20.
During the financial year, the total outstanding credit i.e. aggregate of loan assets and non-fund based commitments against sanctioned loans, stood at Rs 11,094 crore as on 31 March 2021. Loan assets aggregated to Rs 10,751 crore while the outstanding non-fund based commitments aggregated to Rs 343 crore.
Gross Non-Performing Accounts (GNPA) stood at 7.64% and Net Non Performing Accounts (NNPA) was at 3.04% as on 31 March 2021. PFS is expecting further reduction in its NPA level in coming quarters with resolution of few of its stress accounts.
The Capital Adequacy Ratio (CAR) as on 31 March 2021 stood at 23.95% comprising Tier I at 23.55% and Tier II at 0.40%. As on 31 march 2021,the company’s debt to equity ratio stood at 4.37 times.
“The unprecedented pandemic last year triggered grave challenges across the globe. Despite all the hardships arising due to the pandemic, the united reaction sparked by the indomitable human spirit will go down in history as a testament of our endurance. Our business performance in the year gone by is also a reflection of that intrinsic resilience and adaptability.
During the year, the company has resolved stress loans worth Rs 124 crore and its business (sanctions as well as disbursements) have increased. 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. Improved cash flows and strong liquidity position enabled us to have a robust growth on operating and financial parameters,” the company said.
“We are first mover is some of the established as well as upcoming sustainable green infrastructure finance sectors like renewable energy, waste water treatment plant, e-mobility, e-vehicle manufacturing.
With around 50% 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, highways etc. as well as renewable energy space, which will pave the way for stupendous growth in the coming quarters.
With a strong order book, low borrowings cost and excellent credibility we begin the year FY 2022 on a strong growth momentum and significantly have a better sight for future growth,” it added.
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.