PFS, a leading non-banking finance company promoted by PTC India Limited, showcased a resilient financial performance for the quarter ended 30th June 2023 (Q1FY24), demonstrating its ability to thrive and expand in an ever-evolving economic landscape. The company reported a Profit after Tax (PAT) of ₹36.76 crore, showcasing a marginal increase compared to ₹36.41 crore in the previous quarter (Q4FY23).
Despite facing uncertainties and challenges in the financial sector, PFS has successfully navigated through power sector instability, the NBFC crisis, and governance matters. The management’s commitment to adhering to standard corporate practices and processes has been instrumental in maintaining stability and supporting sustainable green projects. Aligning with the government’s vision of achieving net-zero carbon emissions, the company has consciously shifted its portfolio towards sunshine sectors, focusing on sustainable infrastructure initiatives.
PFS reported Total Income of ₹193.23 crore in Q1FY24, compared to ₹207.20 crore in the same period last year (Q1FY23). Yield on Earning Portfolio improved to 10.77% in Q1FY24 compared to 10.50% a year ago, signifying the company’s focus on enhancing its earning assets.
Capital Adequacy Ratio remained robust at 34.90%, providing PFS with the necessary cushion for further growth and expansion in the infrastructure finance domain. Additionally, the Debt Equity Ratio, standing at 2.05 times in Q1FY24, reflects the company’s prudential approach to debt management.
During the quarter, PFS demonstrated its commitment to supporting sustainable green infrastructure by making fresh business (disbursements) of ₹332 crore, bolstering the growth of vital projects in areas such as Water Treatment, Green Hydrogen, CNG biogas, Clean Water Distribution, smart cities, electric mobility, and waste management.
Commenting on the company’s performance, the management of PFS expressed delight in the steady financial progress achieved during the quarter. The conscious shift towards green infrastructure projects is a testament to their dedication to sustainability and supporting the nation’s sustainable development goals. By maintaining a focus on solar and renewable energy projects, PFS is contributing significantly to India’s transition to cleaner and greener energy sources.
PFS remains optimistic about the future, armed with a well-defined strategy and a commitment to responsible financial practices. As the global focus on sustainable development intensifies, PFS’s role as an Infrastructure Finance Company (IFC) assumes greater significance, as it continues to offer financial products and services to infrastructure companies across the energy value chain.
