New Delhi: State-owned Power Finance Corporation Limited (PFC) declared its standalone and consolidated financial results. The company recorded a net profit of Rs 11,605.47 crores in FY23 while in FY22, the PSU registered a net profit of Rs 10,021.9 crores. Thus, the company recorded an increase of 15.8 percent in its net profit on a y-o-y basis. On a q-o-q basis, the company's net profit decreased from Rs 3,004.93 crores in Q3FY23 to Rs 3,492.27 crores in Q4FY23.
PFC's revenue from operations increased from Rs 38,545.40 crores in FY22 to Rs 39,651.75 crores in FY23, registering an increase of 2.87 percent on a y-o-y basis. On a q-o-q basis, revenue from operations decreased from Rs 10,355.23 crores in Q3FY23 to Rs 10,184.89 crores in Q4FY23.
The PSU's total expenses recorded a decrease from Rs 26,363.52 crores in FY22 to Rs 25,495.01 crores in FY23. On a q-o-q basis, the company's total expenses were reduced from Rs 6,684.85 crores in Q3FY23 to Rs 5,905.02 crores in Q4FY23.
As per the filing, the board recommended a final dividend of Rs 4.5 per equity share on the face value of the paid-up equity shares of Rs 10 per share for the FY 2022-23 subject to the approval of shareholders in the Annual General Meeting. This is in addition to the interim dividends of Rs 8.75 per equity share for the FY 2022-23 already declared and paid during the year in three tranches. If declared, the final dividend will be paid within 30 days from the date of approval at AGM. It further added that the record date for the final dividend will be June 16, if declared during the AGM.
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