Comments
State-run Power Finance Corporation (PFC) on Wednesday reported a 10 per cent year-on-year growth in its consolidated net profit at ₹4,295.90 crore for the January-March quarter of FY22. On a sequential basis, its net profit fell by 12 per cent.
PFC’s total consolidated income for the March FY22 quarter rose by 4 per cent Y-o-Y to ₹18,823.55 crore. On a quarter-on-quarter basis, income fell by 2 per cent from ₹19,215 crore in Q3 FY22.
Its board recommended a dividend of ₹1.25 per equity share (subject to deduction of TDS) for FY22. The company said in a stock exchange filing that this is in addition to the interim dividends of ₹10.75 per share for FY22 already declared and paid during the year in three tranches.
The company’s sustained resolution efforts have resulted in net NPA (bad loans of PFC) levels dropping below 2 per cent, which is the lowest in five years. Besides, the net NPA ratio stood at 1.76 per cent in FY22 as compared to 2.09 per cent in FY21.
For the entire FY22, PFC declared a higher consolidated net profit at ₹18,768.21 crore, up from ₹15,716.20 crore in FY21. Consolidated total income was also higher at ₹76,344.92 crore in FY22 from ₹71,700.67 crore in FY21.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.