PTC India Financial Services (PFS) today reported a 91 per cent increase in its net profit at Rs 46.36 crore for the fourth quarter ended March 31, 2014.
The company had registered a net profit of Rs 24.23 crore in the corresponding period last year.
Its total revenues for the quarter under review grew to Rs 149.44 crore from Rs 77.07 crore a year ago, registering a growth of nearly 94 per cent, a statement said.
The company's net interest income during the January- March period increased 56 per cent to Rs 65.06 crore from Rs 41.60 crore in the corresponding quarter of FY'13, while the net interest margin and spread stood at 6.91 per cent and 4.49 per cent respectively during the quarter.
For the entire fiscal year, its profits increased 99 per cent to Rs 207.72 crore and revenues by 91 per cent to Rs 546.16 crore, as compared to Rs 104.16 crore and Rs 286.52 crore, respectively in FY13.
The net interest income for FY14 grew by 39 per cent to Rs 213.22 crore compared to Rs 153.61 crore in 2012-13. Its net interest margin and spread stood at 6.92 per cent and 4.57 per cent, respectively for FY2014.
"We have achieved a healthy set of numbers for FY14 as our net profit increased to Rs 207.72 crore. We are happy to report that PFS continues to have nil net NPAs in its books amid a challenging environment in the macro economy," company's Managing Director and CEO R M Malla said.
The company's disbursements during FY14 stood at Rs 3,071 crore compared to Rs 1,332 crore last fiscal. Its total outstanding loan assets grew 117 per cent at Rs 4,974 crore against Rs 2,296 crore during FY13. Total debt sanctioned as on March 31 stood at Rs 10,303 crore.
Meanwhile, the Board of Directors has approved setting up of an Asset Management Company (AMC) as a subsidiary company of PFS, and has also decided to recommend increase in the authorised capital of the company from Rs 1,000 crore to Rs 2,000 crore with a provision of preference share capital of Rs 750 crore, subject to approval of shareholders and regulators.
