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PTC India Financial Services Ltd announces Q3FY19 results

Posted On: 2019-02-09 23:56:50

Financial Performance for quarter ended 31st December 2018

- Total Income stood at Rs.336.31 crore with PAT of Rs.41.73 crore.
- Additional Rs.1,316 crore loan sanctioned and Rs.697 crore disbursed
- Gross NPA reduced to 6.85% from 6.95% in Q2 FY 2019 and Net NPA reduced to 3.29% from 3.47% in Q2 FY 2019.

- Fresh sanction of loans / credit lines of Rs.2,100 crore has been received from banks / FIs.

Balanced Liquidity: In a volatile quarter where liquidity for NBFCs have drained out in general, PFS scouted for fresh limits of Rs.2,100 crore including Partial Credit Enhancement (PCE) limits of Rs.400 crore and innovated a way for raising Rs.2000 crore through bonds backed by PCE limits. The continuous focused efforts have placed PFS to start marching for another growth story in times to come and disbursed loans amounting to Rs.697 crore during the quarter.

Portfolio Quality: PFS continuously focusing on churning its stress money so as to increase its portfolio quality. In current year PFS financed projects of Rs.1,647 crore achieved one year satisfactory performance post COD and thus their corresponding risk weight has been reduced to 50% from earlier risk weight of 100 %.

Profitability: Our focus continues to be on low risk high yield projects, HAM projects, transmission projects etc. and same would be supported by our healthy pipelines of projects under appraisal. At the same time we are exploring to fetch low cost long term funds so as to increase our NIM and spread. In times to come some of our stresses assets will also be churned out with realization of money and thereby further contribute towards bottom line of the company. All these efforts together are expecting to be result in increasing numbers in coming couple of quarters.

Q3 FY 2019 VS Q3 FY 2018

- Total revenue for Q3 FY 2019 stood at Rs.336.31 crore compared to Rs.298.53 crore in Q3 FY 2018 ( up by 12.66%).

- Profit before Tax for Q3 FY 2019 grows by 32.87% to Rs. 64.55% as compared to Rs.48.58 crore in Q3 FY 2019. PAT grow by 31.78% to Rs.41.73 crore.

- Return on Net worth improved to 8.13% in Q3 FY 2019 in comparison to 5.60% in Q3 FY 2018. Similarly Return on Assets has been improved to 0.32 in Q3 FY 2019 in comparison to 0.29 in Q3 FY 2018.

9M FY2019 VS 9M FY2018

- Total revenue for 9M FY2019 stood at Rs. 1,006.78 crore compared to Rs.899.73 during 9M FY2018 and Interest Income for 9M FY2019 stood at Rs.968.50 crore compared to Rs.850.20 crore in 9M FY2018.

- Fees based income for 9M FY2019 stood at Rs.21.16 crore.

- Profit before Tax (PBT) and Profit after tax (PAT) for the nine months ended 31st December 2019 stood at Rs.223.77 crore and Rs.147.39 crore respectively.

- Net Interest Margin (NIM) and Spread stood at 2.88% and 1.25% respectively for 9M FY2019. Yield on loan assets stood at 9.68% in 9M FY2019 whereas Cost of borrowed funds is at 8.43%.

As at December 31, 2018

- The total outstanding credit i.e. aggregate of loan assets and non-fund based commitment against sanctioned loans stands at Rs.14,465 crore as at 31st December 2018. Loan assets aggregate to Rs.13,390 crore and non-fund based commitment to be disbursed in coming quarters aggregates to Rs.1,075 crores as at 31st December 2018.

- The gross NPAs as at 31st December 2018 reduced to Rs.918.54 crore compared to Rs.928.44 crore as at 30th September 2018. Net NPA as at 31 st December 2018 reduced to Rs.425.27 crore from Rs.447.41 crore as at 30th September 2018. The asset quality is expected to improve further by end of FY 2019.

Commenting on the performance for Q3 FY2019, Dr. Pawan Singh - Managing Director & CEO said: "Our company continues to unlock stress money into return generating assets, and further exploring new and innovative ways of funding to fetch long term finance at lesser cost. Our company is first mover for taking benefit of recent amendment of RBI guidelines for allowing Partial Credit Enhancement (PCE) limits to NBFCs and received sanction of Rs.400 crore PCE limit from country banking leader, i.e. SBI for backing our proposed bonds upto Rs.2000 crore with expected enhanced credit rating. The current volatility of the market is gearing up and strengthening us every day so as to improve our performance in times to come."

Shares of PTC INDIA FINANCIAL SERVICES LTD. was last trading in BSE at Rs.14.56 as compared to the previous close of Rs. 14.53. The total number of shares traded during the day was 37777 in over 146 trades.

The stock hit an intraday high of Rs. 14.67 and intraday low of 14.32. The net turnover during the day was Rs. 549199.


Source: Equity Bulls

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