PTC India Financial Services Q2FY24 net profit rises to ₹59.77 crore

-PTC India Financial Services (PFS) declared Financial Performance for the Quarter and Half year ended 30th September 2023-

Mumbai, October 31st 2023: PTC India Financial Services Limited (PFS), a leading financial institution in sustainable green infrastructure finance declared its Financial Performance for the Quarter and Half year ended 30th September 2023. The Profit after Tax (PAT) increased to ₹ 59.77 crore for Q2FY24 against ₹ 36.76 crore for Q1FY24 and ₹ 52.66 crore for Q2FY23.
Company’s NIM (Net Interest Margin) improved to 4.40% for H1FY24 compared to 4.28% a year ago. Also Capital Adequacy ratio stood at 38.58% hereby providing strong cushion for growth and expansion. Further the Return on Asset improved to 3.13% for Q2FY24 and 2.57% for H1FY24 compared to 2.35% in H1FY23.

PFS Management, said “We are pleased to unveil the impressive financial results achieved during the first half of the fiscal year 2024, solidifying our commitment to consistent performance. Overcoming the various challenges encountered, our Company has undertaken a strategic overhaul, reinforcing our operational infrastructure with a seasoned and proficient leadership team. Our strategic moves has positioned us to embark on an upward trajectory, gearing ourselves for sustained growth in the foreseeable future. Our current focus remains dedicated to enhancing the overall quality of our portfolio, with a keen emphasis on resolving lingering stress assets.
Our concerted effort underscores our unwavering dedication to fortify the foundation of our business, ensuring the optimal management of risks and bolstering the resilience of our operations. In parallel, we are actively engaging in the strategic alignment of fresh credit lines, aiming facilitation for systematic expansion with sustainable growth to sunshine sectors, to continue to deliver enduring value to all our stakeholders. ”.

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