Solar Project Investor PFS Reports 12.7% Growth in 2018-19

Indian power projects investor. PTC Financial Services (PFS) has issued its results for the financial year 2018-19.

PTC Financial Services 2018-19

For PFS the total revenue for the year stood at Rs 1,336.51 crore, which was Rs 151.36 crore more than the company reported in the previous year (FY 2017-18) at Rs 1,185.15 crore. From 2017-18 to 2018-19 the company witnessed an increase in revenues by nearly 12.7 percent. Profit before Tax (PBT) and Profit after tax (PAT) for the year ended March 31, 2019, stood at Rs 281 crore and at Rs 184.14 crore respectively.

Commenting on the performance for quarter and year, Pawan Singh – MD & CEO said, “Last year was a challenging year for the financial sector as a whole and for NBFCs in particular. Our position continued to focus on improving our consolidated portfolio quality, to execute better yields structured finance to corporates of good credit standings and to explore new areas for generation of fees based income.”

“We will continue to grow in the renewable sector in which we are having negligible stress and having huge growth opportunities in future. We will also be tapping the growth opportunities in new similar areas of businesses like SBG city gas distribution, annuity based sewage treatment plants, electrical transportation/charging stations, last mile energy efficiency solution. We tied over the liquidity challenges and our strategy is to work on all possible dimensions simultaneously so as to strengthen our credit standing and to generate more value to our stakeholders, the result of our efforts is expected in coming quarters. Our dedicated efforts have cultivated a way to achieve our intention of being perceived as one of the valuable NBFC of the country,” he added.

For the final quarter of the year, the company reported that the total revenue stood at Rs 331.05 crore compared to Rs 296.75 crore in Q4 FY 2018, up by 11.55%. PBT stood at Rs 57.23 crore as compared to a loss of Rs 402.10 crore in Q4 FY 2018. Return on Net worth stood at 7.18 percent in compared to a negative return on net worth in Q4 FY 2018.

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Ayush Verma

Ayush Verma

Ayush is a staff writer at saurenergy.com and writes on renewable energy with a special focus on solar and wind. Prior to this, as an engineering graduate trying to find his niche in the energy journalism segment, he worked as a correspondent for iamrenew.com.

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