PTC India Financial Services (PFS) has doubled its net profit for the first quarter of fiscal 2014-15 to ₹52.13 crore on the back of an increase in loan disbursals and higher revenue. The company’s net profit in the same quarter last year was ₹24.46 crore.
Total revenue also doubled to ₹173.23 crore from ₹86.22 crore. “This has been another quarter of growth for PFS, where we have built on the gains achieved in the previous period. The company continues to have nil net NPAs in its books. As the current fiscal progresses, we are hopeful of maintaining this momentum with a robust loan book while keeping a check on asset quality of our portfolio,” said RM Malla, MD and CEO.
While the company’s total outstanding loan assets grew 84 per cent to ₹4,956 crore and as on June 30, 2014, its total debt sanctioned stood at ₹10,463 crore.