PTC India Financial Services' Q1 earnings are in focus where asset quality woes continue but healthy loan growth aids earnings. In an interview to CNBC-TV18, Ashok Haldia, MD and CEO of the company spoke about the results and his outlook for the company.
Ashok Haldia, MD & CEO, PTC India Financial Services said the proceeds from this stake sale will help strengthen balance sheet and augment their ability to grow further.
In Q3 results released on Monday, the company said its net profit had risen 19.8 percent year-on-year to Rs 83.2 crore.
Cost of borrowings has come down but there is some pressure on the yield side, says Ashok Haldia, MD & CEO of PTC India Financial Services.
In an interview to CNBC-TV18, Pawan Singh, Director & CFO of PTC India Financial Services spoke about the latest happenings in his company and sector.
PTC India is in discussion with Ministry of New and Renewable Energy (MNRE) to get the power market introduced in the renewable sector. The discussions are at an advanced stage. "We believe during this year this market should also begin", Deepak Amitabh, CMD of PTC India said.
The government's renewables push will boost the company's performance in FY17, says CEO and MD Ashok Haldia.
The financial services firm has not added any NPAs in the December quarter and the stressed assets in NPA remain constant since Q3, says Ashok Haldia, MD & CEO, PTC Financial Services.
Ashok Haldia of PTC India Financial says the deal will help the two companies work together for infrastructure projects in energy value chain.
Ashok Haldia MD & CEO of PTC India Financial says cautious provisioning of assets will help reduce the NPAs.
In an interview with CNBC-TV18, Ashok Haldia, MD & CEO said of the total loan book, 45 percent plus have been sanctioned in the renewable energy sector.
PTC's net interest margin for the March quarter was 6.04 percent and for FY15 as a whole, it was 6.3 percent. Gross non-performing assets stood at 1.28 percent of the total assets
PTC India Financial Services and International Finance Corporation collaborate to boost financing for renewable energy projects
R M Malla, managing director and chief executive officer, PTC India Financial Services says the company‘s net interest margins (NIMs) continue to stand over 6 percent.
The company holds sanctions worth Rs 7,000 crore in the pipeline.
"We are continuously working on cost reduction. Our interest spread will continue to remain around 4.4 percent," RM Malla, MD & CEO, PTC India Financial Services said.
The stock, however, was down 2.9 percent on the stock market at 12:22 IST based on weak earnings.
PTC India Financial Services has sanctioned Rs 1,032 crore to nine energy projects, says director (finance) and CFO Pawan Singh.
PTC Financial Services divested part of its stake in Indian Energy Exchange (IEE). The company offloaded 14% in IEE for Rs 70 crore and it still holds 5% stake.