PTC India Financial Services Sees 27% Profit Decline Amid Interest Income Drop

PTC India Financial Services reported a 27% decline in standalone net profit for the December quarter, primarily driven by a reduction in interest income. The firm's net profit fell to Rs 49.09 crore from Rs 67.14 crore in the previous year, with total income also decreasing significantly.

PTC India Financial Services revealed a steep decline of 27 percent in its standalone net profit for the December quarter, attributing this downturn mainly to a slump in interest income.

In an exchange filing, the company announced that its net profit for this period stood at Rs 49.09 crore, a drop from Rs 67.14 crore recorded in the October-December quarter of the previous fiscal year.

Total income was reported at Rs 125.04 crore, down from Rs 158.12 crore a year earlier, with interest income particularly declining to Rs 110.06 crore from Rs 156.70 crore. As part of PTC India, the financial service firm focuses on providing funding solutions for power sector projects and associated ventures.

(With inputs from agencies.)