PTC India Financial Services posts Q1 profit of Rs 27 cr

New Delhi [India], Aug 5 (ANI): PTC India Financial Services said on Wednesday that its profit after tax moved up 169 per cent to Rs 26.57 crore in the first quarter of current fiscal from Rs 15.64 crore in Q1 FY20.
The debt-equity ratio improved to 4.34 in Q1 FY21 compared to 5.15 in Q1 FY20. Net interest margin improved to 3.36 per cent as compared to 2.99 per cent in the same period.
At the same time, the cost of borrowed funds reduced to 8.76 per cent in Q1 FY21 as against 9.13 per cent in Q1 FY20 while interest spread improved to 2.8 per cent from 2.37 per cent.
The company received additional credit lines of Rs 500 crore in Q1 FY21. The total outstanding credit -- aggregate of loan assets and non-fund based commitments against sanctioned loans -- stood at Rs 11,561 crore as on June 30.
Loan assets aggregated to Rs 11,109 crore and outstanding non-fund based commitments totalled Rs 452 crore. The capital adequacy ratio as on June 31 stood at 23.75 per cent comprising tier one at 22.97 per cent and tier two at 0.78 per cent.
PTC India said its debt to equity ratio has improved to 4.34 and the cost of borrowing for the quarter ended June 30 stood at 8.76 per cent.
"In these challenging conditions, the company has delivered a resilient performance with strong liquidity position, cost reduction and improved cash flows," it said in a statement.
"We continue to be positive on growth prospects based on the new opportunities in lending to sectors such as renewable, transmission, road hybrid annuity model, annuity projects and sustainable infrastructure projects." (ANI)