PTC Fin Services posts Rs 28.23 cr profit for Oct-Dec qtr

NEW DELHI: PTC India Financial Services Ltd (PFS) today posted profit after tax of Rs 28.23 crore in the three months ended December.

In the October-December period last fiscal, the lender had profit after tax of Rs 57.90 crore, benefiting from the sale of equity investments.

The company said its total revenue in Q3, 2012-13 was Rs 76.05 crore. In the year-ago period, it stood at Rs 94.07 crore, including Rs 47.86 crore profit on "sale of equity investments".

"Excluding profit on sale of equity investments, Profit Before Tax (PBT) and Profit After Tax (PAT) growth was at 64 per cent and 65 per cent, respectively in Q3 FY2013 compared to Q3 FY2012," the firm said in a statement.

PFS Chairman and Managing Director Deepak Amitabh said the company continues to grow its loan book by investing in high quality projects and improving disbursements.

"Our sound investment strategy has led us to maintain nil NPAs (Non Performing Assets)... We have recently executed a loan agreement with International Finance Corporation (IFC) for borrowing up to Rs 162 crore for financing the renewable projects," he said.