PTC India Defers Board Meeting Over Subsidiary Financials

PTC India has postponed its May 30 board meeting due to the unavailability of financial results from its subsidiary, PTC India Financial Services (PFS). The company, which owns a 64.99% stake in PFS, is a Non-Banking Financial Company (NBFC) registered with the RBI. The revised meeting date will be announced later.

Power trading solution provider PTC India on Wednesday said it has deferred its May 30 board meeting due to non-availability of financial results of subsidiary PFS.

PTC India Financial Services (PFS), in which the company holds 64.99 per cent stake, is registered with RBI as a Non-Banking Financial Company (NBFC), a regulatory filing said.

The company will submit its financial results in due course and date of the board meeting will be intimated separately, it stated.

''Board meeting proposed on May 30th, 2024 for consideration of ‘approval of standalone and consolidated Financial Results of PTC India for the quarter and year ended March 31, 2024, including recommendation for final dividend for FY23-24 has been deferred on account of non-availability of financial results of PFS,'' the filing added.