PTC India Financial Services Q2 FY27 Results: Consolidated Net Profit ₹44.04 Crore on Total Income of ₹114 Crore

Earnings
infrastructure finance (NBFC)

Blacklitt Research27 October 20263 min read

Several tall steel lattice electricity transmission towers carrying power lines across a green landscape under a clear sky. — Foto3821, via Wikimedia Commons (CC0). Illustrative image.

PTC India Financial Services (NSE: PFS) reported total income of ₹113.67 crore and net profit of ₹44.04 crore for the quarter ended 30 Sep 2026, on both standalone and consolidated bases, it said in a filing on 27 Oct 2026.

Key highlights

Consolidated

Including its subsidiaries

Total income: ₹113.67 crore, down 13.8% YoY and up 10.0% QoQ
Net profit and EPS: ₹44.04 crore, down 50.0% YoY and up 9.4% QoQ; basic EPS ₹0.69
Tax credit: Tax expense of ₹-27.02 crore against ₹29.49 crore a year earlier

Standalone

The company on its own, without its subsidiaries

Total income: ₹113.67 crore, down 13.8% YoY and up 10.0% QoQ
Net profit and EPS: ₹44.04 crore, down 50.0% YoY and up 9.4% QoQ; basic EPS ₹0.69
Finance costs: ₹34.10 crore, down 40.7% YoY and 11.4% QoQ

Summary

Consolidated ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	113.67	131.86	-13.8%	103.31	+10.0%
Revenue from operations	110.19	131.84	-16.4%	103.31	+6.7%
Other income	3.48	0.02	n/a	0.02	n/a
	44.04	88.14	-50.0%	40.24	+9.4%
Profit before tax	17.02	117.63	-85.5%	51.25	-66.8%
Finance costs	34.10	57.51	-40.7%	38.50	-11.4%
Depreciation	1.71	1.88	-9.0%	1.70	+0.6%
Tax expense	-27.02	29.49	n/a	14.01	n/a
Net profit margin	38.74%	66.84%	-28.10 pp	38.95%	-0.21 pp
EPS, basic (₹)	0.69	1.37	-49.6%	0.63	+9.5%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Net profit fell 50.0% YoY while profit before tax fell 85.5%. The gap is the tax line: a credit of ₹27.02 crore this quarter against a charge of ₹29.49 crore a year earlier. The notes say the tax assessments that closed in the period were dealt with as earlier year taxes and interest income, but the filing does not split that credit by item.

Finance costs of ₹34.10 crore are 30.0% of total income this quarter, against 43.6% a year earlier on the ₹57.51 crore base.

The notes also say that during the quarter the company technically wrote off a loan account of ₹187.91 crore and an equity investment of ₹61.12 crore in an associate, R.S. India Wind Energy Private Limited, under RBI directions on resolution of stressed assets. The loan was classified as Stage III with 75% impairment loss allowance and the equity investment had already been fully provided for. The notes also record an RBI approval to reverse ₹191.20 crore of impairment reserve, out of ₹273.71 crore, accounted for in the books.

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	113.67	131.86	-13.8%	103.31	+10.0%
Revenue from operations	110.19	131.84	-16.4%	103.31	+6.7%
Other income	3.48	0.02	n/a	0.02	n/a
	44.04	88.14	-50.0%	40.24	+9.4%
Profit before tax	17.02	117.63	-85.5%	51.25	-66.8%
Finance costs	34.10	57.51	-40.7%	38.50	-11.4%
Depreciation	1.71	1.88	-9.0%	1.70	+0.6%
Tax expense	-27.02	29.49	n/a	14.01	n/a
Net profit margin	38.74%	66.84%	-28.10 pp	38.95%	-0.21 pp
EPS, basic (₹)	0.69	1.37	-49.6%	0.63	+9.5%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Net profit of ₹44.04 crore is 38.7% of total income, a net profit margin of 38.74% against 66.84% a year earlier.

The auditor's limited review draws attention to the NBFC-IFC matter, under which the company had an RBI extension until 30 Sep 2026 to hold infrastructure finance exposure of at least 75% of total assets. The company says it achieved the threshold at the date the results were declared, and the auditor's opinion is not modified on this matter.

Capital and asset quality ratios are reported as at 30 Sep 2026: a debt-equity ratio of 0.45 times, total debts to total assets of 30.06%, net worth of ₹3,164.17 crore, a gross stage 3 ratio of 3.43% and a net stage 3 ratio of 2.88%.

Inference

The filing reports outstanding borrowings of ₹1,412.66 crore and security cover of 2.35 times on book value for Infra Bond Series 2 Option III and IV, per the auditor's certificate. The company's highest credit ratings in the previous financial year were ICRA A-/Stable and CRISIL A/Negative.

The filing does not state whether the company will keep meeting the 75% NBFC-IFC threshold after 30 Sep 2026, whether a dividend will be declared, or who will serve as permanent managing director and CEO; Ajiv Malhotra signs as Managing Director and CEO (Additional Charge).

Reference: Original filing (PDF)

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