There Will Be Fair Inquiry Into Alleged Governance Issues At PFS: Promoter

PTC India Chairman and Managing Director Rajib K Mishra on Friday said there will be a fair inquiry into alleged corporate governance issues at its subsidiary PFS where all independent directors resigned enmasse over the issues. In an unusual development, all three independent directors of PTC India Financial Services (PFS), which is a systemically-important Non-Banking Finance Company (NBFC) — put in their papers on Wednesday. Kamlesh Shivji Vikamsey, Santosh B Nayar and Thomas Mathew T had resigned on the grounds of corporate governance issues at the company. Against this backdrop,…

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PTC India Fin Services Q1 Net Jumps 72 % To Rs 45.60 Cr

PTC India Financial Services (PFS) on Thursday reported a 72 per cent jump in net profit at Rs 45.60 crore for the June quarter on the back of decreasing expenses. The company had posted a net profit of Rs 26.56 crore in same quarter a year ago. Total income, however, fell to Rs 254 crore as against Rs 298 crore in Q1 FY21 as interest income declined. The company earned interest income of Rs 245 crore during the quarter, down from Rs 290 crore in the year-ago period, PFS said…

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