PTC India Financial Services gets refund of Rs 115 cr from I-T dept, stock up 2.8 pc

Shares of PTC India Financial Services (PFS) jumped 2.8 per cent on Thursday morning after the company said the Income Tax Department has processed its refund for assessment year 2019-20 of Rs 115.57 crore by releasing the amount to company.

"PFS may utilise the amount of refund received in financing sustainable environmental-friendly infrastructure projects related to green energy, water sewage treatment plan and electric vehicle charging station.

PTC India Financial Services is a non-banking finance company promoted by PTC India Ltd. The company offers an array of financial products to infrastructure compes in the entire energy value chain and other infrastructure industries.

It also provides fee-based services like loan syndication and underwriting.

In the first quarter of current financial year (Q1 FY21), the company received additional credit lines of Rs 500 crore. The total outstanding credit -- aggregate of loan assets and non-fund based commitments against sanctioned loans -- stood at Rs 11,561 crore as on June 30.

At 12:15 pm, the PFS stock was trading 2.86 per cent higher at Rs 18 per unit.

( With inputs from ANI )