PTC India net jumps over two-fold to Rs 155 crore in March quater
PTC India posted over two-fold jump in its standalone net profit at Rs 155.89 crore in January-March, 2022 quarter compared to the same period a year ago.
The company had reported a standalone net profit of Rs 63.35 crore in the quarter ended on March 31, 2021, a BSE filing showed.
The company's total income dipped to Rs 2,833.34 crore in the quarter from Rs 3,595.63 crore.
The standalone net profit for the full fiscal year 2021-22 rose to Rs 424.81 crore from Rs 410.25 crore in FY21.
Total income in the fiscal also dipped to Rs 15,637.62 crore from Rs 16,992.03 crore in previous year.
Board of directors of the company in its meeting held on Tuesday considered and approved the standalone financial results of FY22, however, has deferred the proposal of consideration of the 2nd interim dividend for FY22, it said.
The company explained that if a listed entity has subsidiaries, it shall, while submitting annual audited standalone financial results, also submit annual audited consolidated financial results to stock exchanges.
PTC India Financial Services Limited (PFS), a subsidiary of the company, through its letter dated May 30, 2022, informed the stock exchanges that it shall publish the financial results for the quarter and financial year ended March, 2022 on completion of the forensic audit at the earliest.
Therefore, it explained that the company could not prepare the annual consolidated financial results due to non-availability of annual audited financial results of PFS.
As the completion of forensic audit of PFS may take time, the company is publishing and submitting to stock exchanges its annual standalone financial results and it would publish and submit to stock exchanges its annual consolidated financial results after the financial results of PFS is received, it said.
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