New Delhi: State-owned Power Finance Corporation (PFC) on Wednesday posted an over 23 percent rise in its consolidated net profit to Rs 7,759.56 crore in the December quarter compared to a year ago, mainly on the back of higher revenues. The company had a consolidated net profit of Rs 6,294.44 crore in the quarter ended on December 31, 2023, a BSE filing showed.
Total income rose to Rs 26,821.84 crore in the quarter against Rs 23,593.40 crore in the same period a year ago. The board also approved declaration of third interim dividend at Rs 3.50 per equity share on the face value of the paid-up equity shares of Rs 10 each for 2024-25.
The record date for the dividend is February 28, 2025. The date of payment or dispatch of the third interim dividend shall be on or before March 11, 2025.
According to a statement, there is a 17 percent increase in consolidated profit after tax (net profit) to Rs 22,157 crore during 9M'25 (April-December 2024) from Rs 18,905 crore in 9M'24 (April-December 2023).
Consolidated net worth, including non-controlling interest, grew 16 percent to Rs 1,51,338 crore as of December 31, 2024, against Rs 1,27,841 crore as of December 31, 2023. About 12 percent growth was witnessed in consolidated loan asset book at Rs 10,69,436 crore as of December 31, 2024, compared to Rs 9,54,483 crore as of December 31, 2023.
Owing to concentrated resolution efforts, consolidated net non-performing assets (bad loans) has reached its lowest level at 0.73 percent in 9M'25 vis-à-vis 0.86 percent in 9M'24. Gross NPA also declined significantly by 83 basis points (bps) to 2.30 percent in 9M'25 from 3.13 percent in 9M'24.
It's Chairman and Managing Director Parminder Chopra said the company's renewable portfolio registered a 28 percent year-on-year growth this quarter, reinforcing PFC's position as India's largest renewable energy lender.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)