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PTC India Financial Services (PFS) reported a 69% increase in NII for Q1 FY'15 with NIM standing at 6.5% and spread at 4.36%. Lower operating expense further helped PBT up by 95%. After providing total tax being up by 59%, PAT for June'14 quarter stood at Rs 52.13 crore, up by 113%.
Commenting on the performance for Q4 & FY2014, Mr. R M Malla - Managing Director & CEO said:
"This has been another quarter of growth for PFS, where we have built on the gains achieved in the previous period. The profit after tax for the quarter ended 30th June'14 stood at Rs 52.13 crore which is 113% higher as compared to corresponding period of previous year. The company continues to have Nil Net NPA in the books. As the current fiscal progresses, we are hopeful of maintaining this momentum with a robust loan book while keeping a firm check on asset quality of our portfolio."
Performance for the quarter ended June'14
For quarter ended June'14, Interest income for PFS grew by 101% to Rs 173.23 crore. Interest expense for the quarter grew by 143% to Rs 89.69 crore. Thus NII grew by 69% to Rs 83.54 crore. The other income stood at Rs 1 lakh for June'14 quarter. Operating expense during the quarter was down by 19% to Rs 8.33 crore. Provision was higher by 57% to Rs 3.07 crore. After providing total tax of Rs 20.02 crore, up by 59%, PAT for June'14 quarter for PFS stood at Rs 52.13 crore, up by 113% YoY.
Performance for the year ended Mar'14
For the year ending Mar'14, Interest income stood at Rs 463.96 crore, up by 62% y.o.y. Interest expense stood at Rs 208.38 crore, up by 106% resulting in 38% increase in NII at Rs 255.58 crore. The other income stood at Rs 3 lakh. Operating expense was up by 46% to Rs 36.34 crore. Provisions were up by 221% to Rs 16.56 crore. There was a profit on sale of investment income of Rs 82.17 crore for 12 months ended Mar'14 as compared to Nil for 12 months ended Mar'12, thus resulting in PBT after sale of investment income to Rs 284.88 crore, up by 83% YoY. After paying total tax of Rs 77.17 crore, up by 51% YoY, PAT for the 12 months ended Mar'14 stood at Rs 207.71 crore, up by 99% YoY.
Other updates
PFS reported Nil Net NPAs.
Total debt sanctioned stood at Rs 10463 crore.
Total outstanding loan assets grew by 84% to Rs 4956 crore as on 30th June'14.
Capital Adequacy Ratio as on June'14 stood at 26.05%
Promoter's shareholding as on June'14 stood at 60% and none of the shares are pledged.
The stock is currently trading at Rs 33.
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