Saturday, August 13, 2022

Maharatna PFC’s profit rises 32% to Rs 2,759 crore in Q2 FY22, dividend announced

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New Delhi: The youngest of all and first in the financial sector Maharatna PSU Power Finance Corporation (PFC) has reported a handsome rise in the standalone Profit After Tax (PAT) for Q2 FY22 at Rs 2,759. PFC's PAT for the quarter is 32 percent higher than Rs 2,085 crore for CPLY (Q2 FY21). PFC also declared an interim dividend of Rs 2.50 per share for the quarter ended on September 30 (subject to deduction of TDS) on the face value of the paid-up equity shares of Rs 10 each for 2021-22. Thus, so far PFC has given an interim dividend of Rs 4.75 per share ie 47.5 percent.

The Net NPA levels of PFC have dropped below 2 percent. The net NPA ratio as on 30.09.2021 is 1.92 percent, which is the lowest in the last 5 years. Also, PFC has been reporting a healthy CRAR* quarter on quarter. CRAR as of 30.09.2021 is 21.76% with Tier I capital of 18.42% and Tier II capital of 3.34 percent.

PFC has reported 22 percent increase in consolidated Profit After Tax for H1 FY22 at Rs. 9,578 crore against Rs 7,847 crore in the CPLY. There is a 19 percent increase in consolidated Net worth at Rs 90,311 crore for H1 FY22 against Rs 75,596 crore for H1 FY21. PFC's Net Interest Income has grown 18 percent at Rs 15,069 crore for H1’22 against Rs 12,782 in the CPLY.

The Maharatna has reported a reduction in consolidated net NPA ratio from 2.60 percent in H1 FY21 to 1.72 percent in H1 FY22 due to the resolution of stressed assets.

*Capital Adequacy Ratio (CAR) is also known as Capital to Risk (Weighted) Assets Ratio (CRAR), is the ratio of a financial institution's capital to its risk.

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