PTC India Financial on a roll!

PTC India Financial Services is doing very well today morning on the back of its encouraging numbers for Q4Fy14 and FY14. The stock has hit a new 52-week high today at Rs.19.50 and it continues to remain around the same levels.

This 60% subsidiary of India’s largest power trader PTC India, for Q4 reported a NIM of Rs.65 crore, up 56% (YoY) with a whopping 91% jump up in net profit at Rs.46 crore. NIM has also come in pretty healthy at 6.91% v/s 4.49%. The most enthusing part of the numbers was the ‘nil’ NPA, with a total outstanding assets growth at 4974 crore, up 117%.

The company ended FY14 with a 39% jump in NII at Rs.213 crore and a 99% jump in net profit at Rs.208 crore. NIM for the year was at 6.92% v/s 4.57%.

The market is also pretty upbeat about its decision to set up an Asset Management Company (AMC), which will launch a PE fund with a corpus of Rs.250-300 crore and will be a subsidiary of PFS. The proposed private equity fund will put in seed money in various energy companies. 20% of the initial corpus of the proposed PF fund will come from PFS and its promoter company PTC India Limited put together.