PTC India Fin down in the red

PTC India Financial Services is down in the red today , following its disappointing set of numbers for Q4FY13. The stock is currently down 3% at Rs.14.86, with an intra day low at Rs.14.70.  Market cap stands at Rs.835 crore.

The company is a subsidiary of PTC India, which holds 60% stake. The stock is down after it reported a 62% (YoY) drop in its net profit at Rs.24 crore on a 34% drop in total revenue earned at Rs.77 crore. NIM also fell YoY from 8.79% to 8.12%.    Net interest margin (NIM) decreased to 8.12% in Q4 March 2013, from 8.79%.  And for FY13, the company’s net profit fell 32% to Rs 104.16 crore, and total revenue earned declined 7% at Rs.286 crore.