PTC India Financial Services hit 5% upper circuit as FY22 PAT increases 407%

Shares of NBFC PTC India Financial Services hit the upper circuit of 5% at Rs 15.46 in Friday’s intraday trade on BSE after the company’s profit after tax (PAT) increased by 407% to Rs 129.98 crore for FY22 from Rs 25.60 crore in FY21.

In a delayed earnings announcement, the company which is promoted by PTC India said it is now positioned to focus on growth and performance.

The net interest income (NII) of the company stood at Rs 344.92 crore in FY22 compared with Rs 353.74 crore in FY21. The total income stood at Rs 968.74 crore in FY22, down by 15% from a year ago's total income of Rs 1,139.45 crore.

The aggregate loan assets and non-fund-based commitments against sanctioned loans stood at Rs 8,686 crore at end of March 2022. Loan assets aggregated to Rs 8,650 crore and outstanding non-fund-based commitments were at Rs 36 crore.

Capital adequacy ratio for the quarter that ended March 2022 stood at 26.71% thereby providing a strong cushion for growth and expansion, it said.

"We have worked through all the challenges with gumption and resolve and the results showcase our efforts. The forensic audit has been completed. The forensic auditor's report does not show any material financial impact. The financial statement for FY2022 shows that the company is now positioned to grow at a rapid pace," the company said in a BSE filing.

We have re-generated a pipeline of new loan proposals related to various sunshine sectors, it added.