PFS reports 69.8 pc rise in Q1 net profit to Rs 26.56 cr

PTC India Financial Services (PFS) on Tuesday reported 69.8 per cent jump in its consolidated net profit to Rs 26.56 crore for the first quarter ended June 30.

PTC India Financial Services (PFS) on Tuesday reported 69.8 per cent jump in its consolidated net profit to Rs 26.56 crore for the first quarter ended June 30. The financier, which mainly caters to the infrastructure and power sector, had registered net profit of Rs 15.64 crore in the same quarter a year ago.

Total income (consolidated) of the company, however, fell to Rs 298.11 crore during April-June, from Rs 352.19 crore in the same period last fiscal, PFS said in a regulatory filing. Interest income was down at Rs 290.37 crore, compared to Rs 344.91 crore a year ago.

PFS said its business during the quarter has been impacted due to various factors, including lockdown situation in the country as activities related to clerances, land acquisition for new/under construction projects specifically in the renewable and road sectors are delayed at borrowers' end. The company does not have any subsidiary firms, but has two associates -- RS India Wind Energy and Varam Bio Energy.

Shares of PFS closed at Rs 17.55 apiece on BSE, down 2.50 per cent from previous close..

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