New Delhi: State-run non-banking financial company PFC Limited has posted a rise of 18.41 percent in standalone Profit after Tax (PAT) year-on-year in Q4 of FY2023-24 at Rs 4,135.45 crore. In the corresponding quarter of financial year 2022-23, PFC had recorded PAT of Rs 3,492.27 crore. On quarter-on-quarter basis, PFC’s standalone net profit has risen 22.45 percent. For the entire financial year 2023-24, PFC’s standalone net profit was up 23.8 percent year-on-year at Rs 14,367.02 crore.
PFC’s consolidated net profit for Q4 was Rs 7,556.43 crore, which was 23.29 percent higher than the figure recorded in the corresponding quarter of FY23. PFC Group registered its highest annual PAT with an increase of 25 percent — from Rs 21,179 crore in FY23 to Rs 26,461 crore in FY24.
PFC’s consolidated balance sheet size crossed more than Rs 10 lakh crore in FY24. The PSU registered a 16 percent growth in consolidated loan asset book from Rs 8,57,500 crore as on March 31, 2023 to Rs 9,90,824 crore as on March 31, 2024. The consolidated net worth of the PSU (including non-controlling interest) increased by 20 percent.
PFC’s consolidated net NPA reaches its lowest at 0.85%
The consolidated gross NPA nearly touched 3 percent and is at 3.02 percent in FY24 vs. 3.66 percent in FY23, said PFC. Owing to active resolution efforts, the consolidated net NPA has reached its lowest level at 0.85 percent in FY24 from 1.03 percent in FY23. The company has declared a final dividend of Rs 2.50 per share in Q4 of FY24. With this, PFC has given a total dividend of Rs 13.50 per share for FY24.
Commenting on PFC’s performance, Chairperson and Managing Director (CMD) Parminder Chopra said that PFC Group continues to be the largest NBFC Group in India and is also India’s highest profit-making NBFC both on a consolidated and on a stand-alone basis.
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