Power Finance Corp Reports Strong Profit Surge Amidst Growing Loan Assets

State-owned Power Finance Corporation (PFC) reported a nearly 9% rise in consolidated net profit for the September quarter, attributed to increased revenue. The company saw significant growth in profits, net worth, and a reduction in net NPAs. It declared an interim dividend, with notable foreign currency operations commencing.

The state-owned Power Finance Corporation (PFC) has announced an impressive 9% increase in its consolidated net profit for the September quarter, totaling Rs 7,214.90 crore. This rise is largely credited to a surge in revenue, as detailed in its recent BSE filing.

In comparison, the previous fiscal year's profit stood at Rs 6,628.17 crore. A robust 14% year-on-year growth was noted in the consolidated Profit After Tax for the first half of FY25, equating to Rs 14,397 crore. This was complemented by a 17% enhancement in its consolidated net worth and a significant 13% rise in its consolidated loan asset book.

PFC achieved a reduction in its consolidated Net NPA to a historic low of 0.80%, marking progress from the previous 0.98%. Director of Finance Sandeep Kumar highlighted this achievement, with Chairman Parminder Chopra touting the remarkable financial quarter backed by strong disbursements. An interim dividend was also announced, alongside innovative foreign currency lending operations from its PFC Infra Finance IFSC Ltd subsidiary.

(With inputs from agencies.)