PTC India reports 5-fold growth in FY22 net profit | Mint
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Business News/ Companies / Company Results/  PTC India reports 5-fold growth in FY22 net profit
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PTC India reports 5-fold growth in FY22 net profit

The PTC India profit before tax stood at Rs. 33.53 crore and profit after tax stood at Rs. 24.98 crore for Q4FY22

Shares of PTC India on the BSE closed at ₹76.85, up by ₹3.65 or 3.65% from its previous close. (Photo: Mint)Premium
Shares of PTC India on the BSE closed at 76.85, up by 3.65 or 3.65% from its previous close. (Photo: Mint)

NEW DELHI : State-run PTC India on Thursday reported an over 5 fold growth in its net profit for FY22 at crore 129.98 crore. 

“PAT of Rs.129.98 crore for FY22 against Rs.25.60 crore for FY21 (over 400%). The Company is now positioned to focus on growth and performance," the company said.

The PTC India Profit before Tax (PBT) stood at Rs. 33.53 crore and Profit after Tax (PAT) stood at Rs. 24.98 crore for Q4FY22.

“Capital Adequacy ratio for the quarter stood at 26.71% hereby providing strong cushion for growth and expansion," it said.

The PTC India said that the forensic audit report has no findings of fraud or diversion of funds or material financial impact on the financials of the company. 

The total outstanding credit i.e. aggregate of loan assets and non-fund based commitments against sanctioned loans, stood at Rs. 8,686 crore as on 31 March, 2022. Loan assets aggregated to Rs. 8,650 crore and outstanding non-fund-based commitments aggregated to Rs. 36 crore.

“The financial statement for FY 2022 shows that the company is now positioned to grow at a rapid pace. We have re-generated a pipeline of new loan proposals related to various sunshine sectors. We are now positioned to contribute significantly to India’s target of a Net Zero emission economy," the company said.

“We are taking steps to contribute towards Green Hydrogen, sustainable agricultural projects – Biomass etc, water treatment projects, electric mobility, renewable energy projects, power transmission, waste management facilities and other sustainable green infrastructure finance projects. Our initiatives will drive the company’s growth and help us to achieve our vision of becoming a leader in sustainable green infrastructure financing," it added. 

PFS is a non-banking finance company promoted by PTC India Limited. PFS has been granted the status of an Infrastructure Finance Company (“IFC") by the Reserve Bank of India. The Company offers an array of financial products to infrastructure companies in the entire energy value chain and other infrastructure industries. 

Shares of PTC India on the BSE closed at 76.85, up by 3.65 or 3.65% from its previous close.

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Published: 17 Nov 2022, 08:20 PM IST
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