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Shares of PTC India Financial Services slipped 10% to Rs 52.65 on the NSE after the company reported a sharp 66% year-on-year decline in net profit at Rs 15.81 crore for the fourth quarter ended March 31, 2015 (Q4). The company had posted a profit of Rs 46.36 crore in the March 2014 quarter and Rs 54.80 crore in the December 2014 quarter.
Net interest income during the quarter rose 39% to Rs 90 crore against Rs 65 crore in the corresponding quarter of previous fiscal.
The company’s gross net performing assets (NPA) as a percentage of gross advances rose to 1.28% in March quarter from 0.09% in the year-ago quarter. Net bad loans rose to 1%, from nil in the March 2014 quarter.
The stock opened at Rs 55 and touched a low of Rs 49 on the NSE. A combined 3.11 million shares changed hands on the counter on the NSE and BSE till 0928 hours.
Net interest income during the quarter rose 39% to Rs 90 crore against Rs 65 crore in the corresponding quarter of previous fiscal.
The company’s gross net performing assets (NPA) as a percentage of gross advances rose to 1.28% in March quarter from 0.09% in the year-ago quarter. Net bad loans rose to 1%, from nil in the March 2014 quarter.
The stock opened at Rs 55 and touched a low of Rs 49 on the NSE. A combined 3.11 million shares changed hands on the counter on the NSE and BSE till 0928 hours.
