PTC India Financial Services

The Delhi-based finance company did not make any substantial disbursements during May-September 2023 due to lack of fresh funding

Mahendra Lodha appointed to take over his responsibilities

PTC India Financial Services on Friday reported a nearly 46 per cent rise in net profit at Rs 36.41 crore for the quarter ended March 2023. The company posted a profit after tax of Rs 24.98 crore in the corresponding quarter of 2021-22. PTC India Financial Services (PFS) is a non-banking finance company promoted by PTC India Ltd. PFS has been granted the status of an infrastructure finance company by the Reserve Bank of India. The company said its net interest margin (NIM) increased to 4.35 per cent in the fourth quarter of FY23 against 4.30 per cent in the year-ago quarter. Its total income for the January-March quarter of 2022-23 fell to Rs 199.70 crore, from Rs 231.35 crore a year ago. For the financial year 2022-23, PFS' profit after tax (PAT) increased to Rs 175.81 crore compared to Rs 129.98 crore in 2021-22. The total income for the fiscal ending March 2023 declined to Rs 797.08 crore over Rs 968.75 crore in FY 2021-22. Shares of the company settled 0.93 per cent up at Rs

The SEBI investigation followed allegations levelled by three independent directors of PTC India Financial Services in January 2022

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PTC India Financial Services (PFS) on Thursday reported a multifold jump in its net profit to Rs 129.98 crore for the fiscal year ended in March 2022 compared to Rs 25.60 crore for 2020-21. In delayed earnings announcement, the non-banking finance company, promoted by PTC India, said it is now positioned to focus on growth and performance. "Forensic audit report has no findings of fraud or diversion of funds or material financial impact on the financials of the company," it said in a release. Capital adequacy ratio for the quarter ended March 2022 stood at 26.71 per cent hereby providing strong cushion for growth and expansion, it said. Total income stood at Rs 968.74 crore in FY22, down by 15 per cent from year ago's Rs 1,139.45 crore. While, the net interest income (NII) for FY22 stood at Rs 344.92 crore compared to Rs 353.74 crore in FY21. The aggregate loan assets and non-fund based commitments against sanctioned loans, stood at Rs 8,686 crore at end of March 2022. Loan asset

The forensic audit began after former chairman and outgoing independent directors of PFS raised governance and other issues in January this year

PTC in a statement on Thursday said a board meeting to declare the financial results would be called shortly

In January, all the three independent directors on the company's board had resigned over corporate governance issues and other matters

PTC India informed BSE about resignation by Kacker and also appended resignation letter along with communication.

PTC India, which holds 64.99% in PFS as promoter, has already formed an internal panel consisting of executive directors and chief financial officer to probe changes

Stock tanks 18.3% as independent directors resign

PTC India slumps 18% after 3 independent directors quit; SBI Card hits 52-week low; Mastek tumbles 11% on muted Q3 numbers; AGS Transact Technologies IPO subscribed 1.4 times on day 2

PTC India slumps 18% after 3 independent directors quit; SBI Card hits 52-week low; Mastek tumbles 11% on muted Q3 numbers; AGS Transact Technologies IPO subscribed 1.4 times on day 2

Three independent directors of the NBFC have resigned from the board with immediate effect citing instances of alleged serious lapses in corporate governance and compliance.

On January 10, the company secretary informed that Rantesh has re-joined NTPC

The company on Tuesday reported a 65 per cent jump in its net profit

PTC India Financial Services (PFS) has reported a 28 per cent decline in its net profit to Rs 31.85 crore for the September 2020 quarter

PTC financial Services, on standalone-basis, reported a sharp drop in annual profit to Rs 109.99 crore for FY20 from Rs 184.14 cr in FY19