PFS Q3 Net up 20% at Rs 83 crore

PTC India Financial Services (PFS) today reported a rise of 19.8 per cent in its net profit at Rs 83.22 crore during the third quarter ended December 2016 of the current fiscal.
The company's net profit in corresponding December quarter of the previous fiscal was at Rs 69.45 crore.
Total income from operations rose to Rs 313.41 crore during the three months to December 2016-17, up from Rs 247.06 crore, it said in a regulatory filing.
Gross NPAs rose to 4.78 per cent of gross advances in the quarter, from 3.77 per cent a year ago, and net NPAs were at 3.32 per cent from 2.80 per cent.

Amount of gross NPAs as on December 31, 2016 was Rs 459.78 crore against Rs 293.71 crore. Net NPAs were at Rs 313.94 crore, up from Rs 215.99 crore.
There was an uptick in the company's provision and contingencies allocation at Rs 8.64 crore against Rs 2.84 crore a year ago.
The company's main business is to provide finance for energy chain through investment and lending into such projects.