Power Finance Corporation net profit rises 17% to Rs 5,023 cr in Q2

State-owned Power Finance Corporation on Thursday posted a 17 per cent rise in its consolidated net profit to Rs 5,023.42 crore in the September quarter, mainly on the back of higher revenues.

The consolidated net profit of PFC was Rs 4,289.74 crore in the quarter ended September 30, 2020, a BSE filing said.

The total income of the company rose to Rs 19,282.60 crore in the Sepetember quarter from Rs 18,171.41 crore a year ago.

The consolidated net NPA declined from 2.60 per cent in H1 FY21 to 1.72 per cent in H1 FY22 due to the resolution of stressed assets.

The board in its meeting on Thursday also approved the declaration of the second interim dividend at the rate of Rs 2.50 per equity share (subject to deduction of TDS) on the face value of the paid-up equity shares of Rs 10 each for 2021-22.

An interim dividend of Rs 2.50 per share was declared in Q2 FY22. Thus, so far PFC has given an interim dividend of Rs 4.75 per share i.e. 47.5 per cent, the company said in a statement.

The company informed that Thursday, November 25, 2021, shall be reckoned as the 'Record Date' to ascertain the eligibility of shareholders for payment of the second interim dividend for 2021-22.

The date of payment /dispatch of the second interim dividend shall be on or before December 10, 2021.