PTC Financial Services’ net profit for the third quarter of fiscal 2014-15 has dropped by almost 49 per cent year-on-year to ₹ 54.80 crore. In the same quarter last year, the company had a net profit of ₹ 106.90 crore.

The company’s revenues for the quarter increased by 5.4 per cent to ₹ 212.02 crore from ₹ 201.04 crore in the same quarter last year.

“We have been more focused on lending to renewable energy projects, which has been a key thrust area for the country. Going forward, we are hopeful of maintaining current growth rates as a combination of suitable investment climate, capacity addition, especially in renewable energy, policy support and falling interest rates push up demand for funds from power sector, especially renewable energy sector,” said R M Malla, Managing Director and Chief Executive Officer of PTC Financial Services.

Net interest income

While the company’s net profit was down, it had a substantial growth in its net interest income. The company’s net interest income for the quarter grew 62 per cent to ₹ 89.8 crore from ₹ 55.3 crore in the same quarter last year.

As on December 31, 2014, the company had reported zero net non-performing assets. It had total outstanding loan assets growing by 75 per cent to ₹ 5,883 crore over the corresponding period last year.

At 2.37 pm IST on Friday, the company’s shares were trading 5.69 per cent lower on the BSE at ₹ 67.90.

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