Companies

PFC Q1 consolidated net up 23% to ₹3,557 crore

Our Bureau New Delhi | Updated on August 13, 2020 Published on August 13, 2020

State-run Power Finance Corporation (PFC) has reported a ₹3,557 crore profit after tax for the first quarter of the financial year 2020-2021. This is a 23 per cent increase from the ₹2,900-crore bottom-line reported by the company in the same quarter of the last fiscal.

The company also reported a 16 per cent increase in consolidated revenue from operations to ₹16,914 crore in the quarter ended June 2020 compared with ₹14,595 crore in the quarter ended June 2019.

PFC and its subsidiary Rural Electrification Corporation (REC) has so far sanctioned more than ₹60,000 crore under the ₹90,000-crore power distribution companies (discoms) liquidity support announced by the Centre under the Aatma Nirbhar Bharat Abhiyaan.

PFC also reported a reduction in consolidated net non-performing asset ratio to 3.15 per cent in the quarter under review, down from 4.20 per cent in the same quarter of the previous fiscal.

Shares of PFC traded 3.82 per cent higher at ₹95.15 a scrip on the BSE.

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Published on August 13, 2020
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