Blitz Bureau
NEW DELHI: State-owned enterprise Power Finance Corporation Ltd (PFC) posted nearly 24 per cent increase in its consolidated net profit at RS 3,718 crore for the quarter ending June 30, 2024. It had reported a profit of Rs 3,006.9 crore in the corresponding period last year.
PFC has declared an interim dividend of Rs 3.25 per equity share on the face value of the paid-up equity shares of Rs 10 each for FY2024- 25, according to the April-June quarter results announced by the company on August 6. The date of payment of the dividend will be on or before September 5.
The company’s net interest income, the difference between interest earned and interest expended, rose 23.5 per cent to Rs 4,328 crore for the quarter. The same was Rs 3,503.3 crore in the yearago quarter.
PFC continues to maintain comfortable capital adequacy levels. The CRAR as on June 30 this year was at 27.10 pc, with Tier1 capital at 24.86 pc. The company’s net worth has surpassed the Rs 80,000-crore mark and now stands at Rs 83,265 crore, an increase of 17 per cent. No new NPA have been added in more than a year. The gross NPA ratio saw a significant reduction of 44 bps and is at 3.38 pc for the first quarter of FY25. The net NPA ratio is at 0.87 per cent, a decrease of 17 bps.
On the company financial performance, PFC Chairman and Managing Director Parminder Chopra said, “PFC’s sustained success is reflected in its ability to deliver value to shareholders. The company’s strong performance has enabled it to declare an interim dividend of Rs. 3.25 per share in Q1’25.”
Director (Finance) Sandeep Kumar said “PFC continued to deliver healthy profits quarter on quarter.” PFC’s financial position, he said, “remains strong, with a net worth of Rs. 83,265 crore and a comfortable capital adequacy ratio of 27 per cent providing a solid foundation for future growth of the company.”
