PTC India considers selling controlling stake in its Monetary Services arm
PTC India Ltd is planning to divest the controlling stake in its monetary companies arm PTC India Monetary Services (PFS).
The final day of submission of Passion by a bidder is July 31, 2020, PFC talked about in a submitting with the BSE. PTC held a 64.99 per cent stake in its monetary companies arm as on March 31, 2020.
PFS stock closed 1.1 per cent decrease at Rs 13.7 per fragment on BSE.
The requisite interior approvals were got to reinitiate the direction of of exploring alternatives for monetising the Company’s investment in PFS.
PTC monetary Services, on standalone-basis, reported a entertaining plunge in annual profit to Rs 109.99 crore for FY20 from Rs 184.14 crore in FY19.
Its complete Profits for FY20 elevated by 2.5 per cent to Rs 1,369.71 crore in contrast with Rs 1,336.51 crore in FY19.
The total notorious credit stood at Rs 11,394 crore as on March 31, 2020. Mortgage resources amounted to Rs 11,005 crore and notorious non-fund primarily based commitments amounted to Rs 389 crore.
The Depraved Non Performing Accounts (GNPAa) stood at 6.77 per cent and Earn NPAs at 3.62% as on March 31, 2020.
Its Capital Adequacy Ratio (CAR) as on March 31, 2020 stood at 23.72 per cent comprising Tier I at 23.14 per cent and Tier II at 0.58 per cent.