PFC posts 13% fall in Q3 profit

Our Bureau New Delhi | Updated on February 12, 2020

Power Finance Corporation (PFC) Ltd has reported a ₹3,386.72-crore consolidated net profit for the third quarter of financial year 2019-20. This is 12.63 per cent lower than the ₹3,876.17 crore net profit reported in the same period of the previous financial year.

The company board on Wednesday recommended an interim dividend of ₹ 9.50 per equity share on the face value of the paid-up equity shares of ₹10 each for the financial year 2019-20.

Consolidated total income during the period under review rose 13 per cent to ₹15,878.04 crore from ₹14,050.95 crore in the quarter ending December 31, 2018.

On Wednesday, shares of the company closed 1.16 per cent higher at ₹126. on the BSE.

“The company’s gross non-performing asset (Stage III) ratio saw a drastic reduction of 1.13 per cent year on year. The gross NPA ratio (Stage III) as on December 31, 2019 is 8.34 per cent compared to 9.47 per cent last December. Also, the net NPA ratio has come down to 3.94 per cent, which is the lowest in the last two years,” a company statement said.

“The capital adequacy ratio increased by 37 basis points to 19.32 per cent, compared to 18.95 per cent on December 31, 2018. This is now back to the levels which existed prior to acquisition of REC,” the statement added.

Published on February 12, 2020

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