Q3FY24 Quarterly & 9MFY24 Result Announced for PTC India Financial Services Ltd.
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 PDF01-02-2024