PFS sees profit jump to Rs139.40 crore
1 min read . Updated: 06 Feb 2023, 08:12 PM IST
Premium- Net Sales at Rs194.31 crore in December 2022 dip 15.06% from Rs228.75 crore in Dec 2021
NEW DELHI : PTC India Financial Services (PFS) profit after tax during the first nine months of the current financial year jumped to ₹139.40 crore against ₹105.01 crore during the comparable period last financial year.
“Net Sales at ₹194.31 crore in December 2022 down 15.06% from Rs. 228.75 crore in December 2021," the company said.
It added that the Quarterly Net Profit is Rs. 36.18 crore in December 2022 up 421.71% from Rs. 6.93 crore in December 2021.
The company is having a robust pipeline of around ₹5,600 crore for new business proposals in pre-sanction stages, the company said.
“Company has requested its bankers for additional credit lines of Rs.3,000 crore to fuel the pace of growth," PFS said in a statement.
The company further said that the recent green budget is going to throw up several business opportunities for the company.
“We have restarted our active credit growth efforts from December. Our Board has started bringing new talent in the company to achieve the desired level of growth and performance. We will continue to work with our banking partners to build a robust pool of loan projects opportunities in the next quarter," the company said.
The management clarified that total outstanding credit i.e. aggregate of loan assets and non-fund based commitments against sanctioned loans, stood at Rs. 7,301 crores as on 31st December, 2022.
