New Delhi: State-run Power Finance Corporation (PFC) has reported a robust financial performance for the quarter and full year ended March 31, 2025, with strong growth in profitability and stable margins across both standalone and consolidated operations. PFC’s consolidated net profit for FY25 rose by 17.7 percent to Rs 16,832.69 crore, compared to Rs 14,299.37 crore in the previous financial year. This sharp rise in the bottom line came alongside a steady increase in total income, which climbed to Rs 91,985.11 crore in FY25, reflecting a year-on-year growth of 8.3 percent. Revenue from operations stood at Rs 91,245.34 crore, up 8.1 percent over FY24.
For the March quarter, PFC’s consolidated net profit came in at Rs 4,227.07 crore, a jump of 22.2 percent from Rs 3,460.04 crore recorded in the same quarter last year. On a sequential basis, the profit was up 2.6 percent over the December quarter. The company reported total income of Rs 24,012.98 crore in Q4 FY25, which marked a 10 percent increase from the year-ago period. Operating performance also remained strong, with EBITDA rising to Rs 12,848.65 crore in the quarter, representing a 14.2 percent year-on-year increase.
On a standalone basis, PFC recorded a net profit of Rs 14,572.64 crore for the full year, an increase of 14.3 percent compared to Rs 12,749.67 crore in FY24. Total income rose to Rs 83,215.12 crore, up 6.5 percent from the previous year, while revenue from operations increased by 6.4 percent to Rs 82,526.15 crore. For the March quarter alone, standalone net profit rose to Rs 3,726.49 crore, up 6.1 percent from Q4 FY24 and 1.4 percent higher than the preceding quarter. Revenue from operations for the quarter reached Rs 21,456.91 crore, showing a 9.4 percent increase on a year-on-year basis.
Standalone profit margin declined 0.29 percent quarter-on-quarter and 0.68 percent year-on-year, but consolidated margins improved significantly year-on-year, suggesting stronger performance from subsidiaries. The growth of 14.3 percent in PFC’s standalone net profit and 17.72 percent in consolidated net profit reflect robust profitability despite moderate revenue growth (~6–8 percent).
The Board of Directors has recommended a final dividend of Rs 2.05 per equity share for FY25. This is in addition to the four interim dividends aggregating Rs 13.75 per share that were declared and paid during the year. As a result, the total dividend payout for FY25 amounts to Rs 15.80 per share, reflecting the company’s strong cash flow position and its continued commitment to shareholder returns.
Despite a challenging macroeconomic environment, PFC has delivered consistent performance, with improvements in both top-line and bottom-line metrics. The profit growth, particularly at the consolidated level, highlights the contribution of subsidiaries such as REC Ltd. While revenue growth is solid, it’s not extremely high, indicating a stable but not aggressive expansion in loan book or spread. PFC’s standalone loan book grew nearly 11 percent from Rs 4,48,074 crore at the end of FY24 to Rs 4,96,822 crore by FY25-end. PFC shares opened at Rs 406.40 apiece on Wednesday. Following the announcement of its robust financial results, the stock closed at Rs 411.45, marking a 5.20 percent gain as investor sentiment turned positive on the back of strong earnings growth and a generous dividend payout.
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