PAT of PFS for Q2FY24 up at Rs 59.77 crore

Management Commentary:Overcoming the various challenges encountered, our Company has undertaken a strategic overhaul, reinforcing our operational infrastructure with a seasoned and proficient leadership team.

FinTech BizNews Service 

Mumbai, 30 October, 2023:  

Q2, 2023-24 of PFS, promoted by PTC India:

•  Total Income for Q2FY24 stood at Rs 201.81 crore as compared to Rs 195.84 crore in Q2FY23
•  Profit before Tax (PBT) and Profit after Tax (PAT) for Q2FY24 increased to Rs 79.99 crore and Rs 59.77 crore compared to Rs 70.27 crore and Rs 52.66 crore in Q2FY23 respectively
•  Yield on Earning Portfolio improved to 10.89% in Q2FY24 compared to 10.58% in Q2FY23
•  Debt Equity Ratio improved to 1.94 times in Q2FY24 compared to 2.38 times in Q2FY23 thereby providing cushion to further leverage with growth
•  Net Interest Margin (NIM) (Earning Portfolio) increased to 4.46% in Q2FY24 compared to 4.34% in Q2FY23
•  Spread (Earning Portfolio) for Q2FY24 stood at 2.41% compared to 3.12% in Q2FY23
•  Cost of borrowed funds has increased to 8.48% in Q2FY24 compared to 7.46% in Q2FY23 in line with market trend

H1, 2023-24

•   Total Income for H1FY24 stood at Rs 395.04 crore compared to Rs 403.05 crore in H1FY23
•   Profit before Tax (PBT) and Profit after Tax (PAT) for H1FY24 stood at Rs 129.23 crore and Rs 96.53 crore compared to Rs 137.94 crore and Rs 103.22 crore in H1FY23 respectively
•   Yield on Earning Portfolio improved to 10.83% in H1FY24 compared to 10.54% in H1FY23
•   Debt Equity Ratio improved to 1.94 times in H1FY24 compared to 2.38 times H1FY23 thereby providing cushion to further leverage with growth
•   Net Interest Margin (NIM) (Earning Portfolio) increased to 4.40% in H1FY24 compared to 4.28% in H1FY23
•   Spread (Earning Portfolio) for H1FY24 stood at 2.42% compared to 3.05% in H1FY23
•   Cost of borrowed funds have been increased to 8.41% in H1FY24 compared to 7.49% in H1FY23 in line with market trend
•   Net Interest Income (NII) for H1FY24 stood at Rs 161.50 crore compared to Rs 170.02 crore in H1FY23.
•   The total outstanding credit i.e. aggregate of loan assets and non-fund based commitments against sanctioned loans, stood at Rs 7,175 crores as on 30th September, 2023
•   Capital Adequacy Ratio as on 30th September, 2023 stood at 38.58%. 

Management Commentary

Overcoming the various challenges encountered, our Company has undertaken a strategic overhaul, reinforcing our operational infrastructure with a seasoned and proficient leadership team. Our strategic move has positioned us to embark on an upward trajectory, gearing ourselves for sustained growth in the foreseeable future. Our current focus remains dedicated to enhancing the overall quality of our portfolio, with a keen emphasis on resolving lingering stress assets.

Our concerted effort underscores our unwavering dedication to fortify the foundation of our business, ensuring the optimal management of risks and bolstering the resilience of our operations. In parallel, we are actively engaging in the strategic alignment of fresh credit lines, aiming facilitation for systematic expansion with sustainable growth to sunshine sectors, to continue to deliver enduring value to all our stakeholders. ”