PFC Q2 profit up nearly 9% to Rs 7,215 crore

State-owned Power Finance Corporation (PFC) connected Friday posted astir 9 per cent emergence successful consolidated nett net astatine Rs 7,214.90 crore for September 4th chiefly connected the backmost of higher revenues.

The institution logged a nett of Rs 6,628.17 crore successful the aforesaid play of FY24, according to a BSE filing. Total income roseate to Rs 25,754.73 crore from Rs 22,387.32 crore a twelvemonth ago.

The institution logged 14 per cent emergence successful consolidated Profit After Tax successful April-September FY25, to Rs 14,397 crore from Rs 12,610 crore a twelvemonth ago.

Consolidated nett worthy (including non-controlling interest) accrued by 17 per cent from Rs 1,23,703 crore arsenic connected September 30, 2023 to Rs 1,45,158 crore arsenic astatine September-end this year.

There was 13 per per cent maturation successful consolidated indebtedness plus book, from Rs 9,23,724 crore arsenic connected September 30, 2023 to Rs 10,39,472 crore astatine September-end this year.

Owing to concentrated solution efforts, consolidated Net NPA (bad loans) reached its lowest level astatine 0.80 per cent successful H1 FY25 vis-à-vis 0.98 per cent successful H1 FY24, it stated.

Gross NPA (bad loans) besides declined importantly by 78 ground points from 3.40 per cent successful H1 FY24 to 2.62 per cent successful H1 FY25.
Director (Finance), Sandeep Kumar said that PFC successfully reduced nett NPA levels beneath 1 per cent, reaching a level of 0.72 per cent.

Chairman and Managing Director Parminder Chopra said PFC has erstwhile again delivered a singular quarter, marked by beardown disbursements of Rs 46,663 crore.

"Our committee has declared an interim dividend (second for fiscal FY25) of Rs 3.50 per share. Our subsidiary, PFC Infra Finance IFSC Ltd based successful IFSC GIFT City Gujarat, commenced overseas currency lending operations successful October 2024. This makes it the archetypal institution to commence powerfulness and infra lending concern successful IFSC," she said.

November 25, 2024 shall beryllium the grounds day for ascertaining the eligibility of shareholders for outgo of the 2nd interim dividend.

The day of outgo /dispatch of the interim dividend shall beryllium connected oregon earlier December 8, 2024.