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earnings | IST

PTC India Fin says Rs 280 cr assets near resolution; focusing on diversifying source of renewable

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PTC India Financial Services posted a mixed set of Q2. To discuss the earnings fineprint, CNBC-TV18 spoke to Pawan Singh, MD and CEO of the company.

PTC India on Thursday posted a marginal rise of nearly 1 percent in consolidated net profit at Rs 195.48 crore for the quarter-ended September of the current financial year. In the year-ago period, the company clocked a profit of Rs 193.64 crore, according to a BSE filing.
Total income stood at Rs 5,474.34 crore in the quarter under review as compared to Rs 6,011.39 crore in the same period last year. The company's board in its meeting held on Thursday declared an interim dividend of Rs 2 per equity share having face value of Rs 10 each for the financial year 2021-22.
On NPAs, Pawan Singh, MD & CEO of PTC India Fin Svcs, said, “Net NPA figure, it has come down from over Rs 500 crore at the beginning of the year to Rs 281 crore. All these 280 crore is at a very advanced stage of resolution and one account where we had 90 crore we had made provision that also the recovery is on the anvil. We are looking for regulatory consent and that also should happen very shortly.”
He added, “Since we are at a very very advanced stage and the value which will recover will be higher than whatever is the net NPA amount so, we are expecting a write back on this account. So, as far as we are concerned, we are out of the stress cycle which you know was largely because of the thermal assets, which were legacy assets, which were lying in our book for quite some time.”
On future growth drivers, Singh said, “We are trying to become a company which is 360 degree renewable in the sense that it is into the sustainable area not confined to renewable of the sustainable part. So, we have started doing sanitation, water treatment, waste management, and recently the first you know, immobility large scale which was launched in the country by the Prime Minister (Narendra Modi) in Lucknow 700 buses that also be financed, e-charging stations and of course, Make in India manufacturing on the renewable side."
"So, it is not renewable, certainly not the wind and solar conventional renewable, but we have moved to other areas of sustainability finance, which is opening up and these are niche areas and apart from the International Finance organisation we are the one of the few first infrastructure finance companies who have taken exposure in this area.”
He added, “The other areas like - we entered about two years back or three years back that was road sector and we have taken some exposure in the port also. Transmission line of course, this is one of the areas which we have traditionally also financed. So this would constitute another area. So that is how we are, you know diversifying our source of renewable and then in sustainability that is our focus.”
For full management commentary, watch the video.
-With PTI inputs